Can a dealer have Two current accounts in two different banks for the single proprietor concern??

I work in spinning mill, gobi. We purchase fibre by CST purchase and we sell vatable local sale, CST interstate Sale and also consignment sale. We claim ITC for other manufactuing inputs like machinery spares.

Till now I haven't reversed any ITC. Now the assessing authority says that I have to reverse ITC 4% proportionate for both CST and consignment sales, even though I produce C and F forms for those sales.

Some say, we need not if we produce the forms. Some say even if we produce Form F for consignment sales we have to reverse ITC for 1%.

Please clarify me which is right? How should I reverse ITC in vat returns? Should I have to give bill wise details in annexures?

Should I have to reverse 4% or 1%

DEAR SIR,

CAN ANYONE TELL ME THE PROCEDURE OF GETTING FOR E1 AND E2 FROM SALES TAX DEPARTMENT.
DOCUMENTATION REQUIRED ETC

Hello

My Query:
our firm is engage in catering business, so purchase variety of Goods. Now there is Local purchase of rice from Shopkeeper who sells grains & General items. under which head i.e pur from RD, or pur from URD should i enter.

Need your help
Thanks
Alpesh

Reduction of sale price for levy of tax u/r. 57.
Whether reduction u/r. 57 is allowable from the gross receipt of works contract, where in composition tax is not seperately charged?

In rule 57 word used is 'Sales tax' is payable where as definition of tax says that it includes sales tax and composion tax payable.

Sect. 42 relate to composion of tax, word used is tax payable, but word sales tax is not used.

Dear All,

What is the % of VAT on scrap sale ??

Regards,
Santosh

Dear Sir

I want to that we are furniture making company ,we make furniture of Big office like wipro,Capgemini,i.e. we are work contractor.We are under composition scheme i.e. we are charging Vat 8 % and Service tax 4.12 % .Now my question is we have got same type of job in Ahmedabad & Jaipur.We will purchase all material there at place os site and we will use there.So while billing our client we will charge cst or Vat and also if cst at what rate since we are in composition scheme.And also will we get the deduction of material purchased outside.
Please clear every thing I m confused

If the CST Sales @12.5%,
then is it necessary to record the transaction in Annexure I of Mvat Audit Report.
OR
there is no requirement to record in Annexure I of the MVAT Audit report.

Please reply!!!! It's Urgent!!!!

Hi Experts,
Please help me,

I want to Know what is work contract tax and on which types of contracts it is applicable ?

What is difference between WCT and TDS ?
Whether both TDS and WCT can be applicable on same contract ? if yes than what are criteria for that ?

Thanks in advance!!!!
Have a nice day.

purchase return after six months, i can't reversed the inputs, so that what is journal of that return, and also in vat return how can i similar the purchae and vat. Because here purchase will decrease, and vat not decrease.