Dear Colleagues,
Mr. A has commenced new business. He purchased goods worth Rs. 6 lacs & sold these goods on the same day for Rs. 7 lacs, therefore he would be liable for registration under MVAT Act.
1. In this case on what amount he would be liable to pay MVAT?
2. Can he pay tax only on the difference amount of Rs. 2 lacs-(i.e.Rs.7 Lacs –Rs. 5 Lacs) or he would be liable to pay MVAT on entire amount of Rs. 7 lacs?
3. Can he collect the MVAT from buyer?
4.can he claim set off on Purchase of Rs. 6 lacs
REGARDS
C.A.PARESH ZATAKIA
9833855518

Hi Dears

Can any one suggest what is the rate of interest for late payment of VAT after due date & filing the return after the date

Please also let me know if any penalty has to be paid.

dear Sir

we have purchase intersate goods on 30.9.2011 from mahashtra state and that goods we going sale in next month i.e oct 2011, but my question is , i want show the cst purchase goods in sept 2011 cst filing ,in cst filing no column for purchase amount filing what to do for that? whether i want show in vat return annexure or when sale in occured time ?

please me in this regard

Is Vat or service tax applicable on sale or purchase of any property(A flat). Tell me if any case studies I can refer to.

Vat liability of a dealer is rs.25000/- .

but due to cash crunch he want to pay it in next month.

should I file his vat return on/before due date to avoid penalty for not filing of return.

Later on tax can be paid with interest.

Urgently waiting for ur reply.

Sir i have a readymade garment shop & want a VAT tin no. . i have rented shop & House (both are rented) can officr reject my application on the grounds of rented shop & house as i dont have a own property & if so how can i run my business if turover excedds limit of 5 lacs

Dear Sir,

I want to know vat payment due date & vat return due date for gujarat state

A firm started its business on 1.7.2011 in Punjab and got its VAT regn No. on 25.8.2011. It made a retail purchase and sales bill during the period 1.7.2011 to 25.8.2011. I want to know whether these bills will be included in the VAT return?
Whether on retail sale bill before regn, it has to pay VAT?
Also, In the field of quarter (In Forms 23,24,18,19,15 and during e-filing ) what is to be mentioned? From 1.7.2011 to 30.9.2011 or 25.8.2011 to 30.9.2011

Plz reply as it is very urgent.

Dear friends I have a doubt regarding the input vat on capital goods whether to claim as input or not to take it as input. We are a hospital purchased medical and surgery related machinery/Equipment and want to claim the input vat against the output vat on sale of medicines to the patient., Is it valid as per vat rules or not. Please clarify.

We caring business as a dealer of tiller (small tractor for agriculture use)our purchases out of india (import). we purchased van (small car) for demo use. can we take vat setoff on purchase of car for business use.