proprietor of M/s. ABC tradings, Mr.A wants to retain the same name of business concern and transfer the ownership to his son Mr.B. henceforth business shall be looked after by Mr.B and he shall get the earnings

can this be done?
what are procedures invoved?

We comes under TN VAT Act (Registered dealer in Tamilnadu). We are planning to sell our used Generator to Kerala (Cochin). My query is

1. Shall we sell the same under CST (Interstate sales) mode or not

2. If yes, what is the rate of CST with / without Form "C".

3. If No, how can we sell to them under CST/VAT Tax.

3. Can we mention the name of item like resale of used generators or how can we mention the item name in invoice.

4. Our buyer going to use our used generator for their upcoming new hotel in Kerala. They can treat this purchase as an asset or not.

Can you please clarify the above.

With Regards
R Saravanan

Is there any input tax exemption or refund available for purchases made by SEZ from suppliers in Domestic Tariff Area, under Maharashtra VAT?

There is no specific provision available regarding this in the Maharashtra VAT Act where as under Section 51, list of persons eligible for refund is provided which has a mention of SEZ units (Units mentioned u/s 8(3)).

When all other states have a provision in their VAT act for exemption to SEZ units, just wanted to know whether there is any such exemption available under MVAT also..

Thanks in advance..

Dear Sir,

Recently i receive a notice from Dept of Sale Tax, Uttar Pradesh they ask to submit our reply for the SANGAT (???) VARSH (Year) 2008-09. i am very much confused in the meaning of the SANGAT (???) VARSH (Year)whether its the FY 2008-09 or AY 2009-10.

Request for your valuable response.


Thanking You.

Dear Experts..

I would like to know whether do we have to show/give any security for registering a partnership firm(a new trading company) to register for VAT & CST with Karnataka Government? If so what could be the amount and what are the other documents required to provide for VAT/CST registration.

Thanks in advance.

Venkat

if my turnover is below 10 lakh and i want to issue a bill than what should i write as heading.............. i know i cant write tax invoice..........and in that printed invoice do i need to print vat column or not?
and when my turnover exceed 10 lakh can i use progressive invoice (i.e invoices in continuation with my below 10 lakh turnover) or do i need to start with one?

Dear friend,
I have a shop which is a propreitory concern in karnataka. i propose to open a shop in kerala. what formaliies i have to undergo inorder to show that it is my own shop in kerala so that i am not charged CST on stock transfer to my branch in kerala.

please reply

Recently there is amendment in relation to used car where by every dealer has to pay tax on used car for ist first sale at the rate of Rs 3000 or 5000 depending upon Cc of the car.

MY question is

Is this amendement applicable to Ltd companies if they sold their car.(not in the business of buying or selling the car)

On enquiry from VAT Cell at patiala they told us Every persons who sell the car are liable to pay the tax.

But so far as notification is concerned every dealer is liable to pay the tax and dealer is not defined under the Punjab Act however defined under the CST Act and person who is in the business of buying and selling the goods or his agent is primarly can considered a dealer.

moreover ITC is also not available when a company buy a car.Then how can company liable to pay the tax if he is not in a business to buy or sell the car.

The relevant notification and defination under CST Act is given.

Please share your opinion in the matter.


In the said schedule ‘E’, after serial No.9, and the entries relating thereto the following shall be added, namely:-


‘’10 (a) Pre-owned cars having engine Rs.3000/- per car on the first
Capacity not exceeding 1000cc. sale, by a dealer
liable to pay
tax under this Act.




(b) Pre-owned cars having engine Rs.5000/- per car on the first
Capacity exceeding 1000cc. sale, by a dealer
liable to pay tax
under this Act.”





KARAN BIR SINGH SIDHU
Financial Commissioner, Taxation and
Secretary to Government of Punjab,
Department of Excise and Taxation.


Dealer under CST Act

[(b) "dealer" means any person who carries on (whether regularly or other­wise) the business of buying, selling, supplying or distributing goods, directly or indirectly, for cash or for deferred payment, or for commission, remuneration or other valuable consideration, and includes-

(i) a local authority, a body corporate, a company, any co-operative society or other society, club, firm, Hindu undivided family or other association of persons which carries on such business ;

(ii) a factor, broker, commission agent, del credere agent, or any other mercantile agent, by whatever name called, and whether of the same description as hereinbefore mentioned or not, who carries on the business of buying, selling, supplying or distributing goods belonging to any principal whether disclosed or not; and

(iii) an auctioneer who carries on the business of selling or auctioning goods belonging to any principal, whether disclosed or not and whether the offer of the intending purchaser is accepted by him or by the principal or a nominee of the principal.

Explanation 1: Every person who acts as an agent, in any State, of a dealer residing outside that State and buys, sells, supplies, or distributes, goods in the State or acts on behalf of such dealer as-

(i) a mercantile agent as defined in the Sale of Goods Act, 1930 (3 of 1930), or

(ii) an agent for handling of goods or documents of title relating to goods, or

(iii) an agent for the collection or the payment of the sale price of goods or as a guarantor for such collection or payment,

and every local branch or office in a State of a firm registered outside that State or a company or other body corporate, the principal office or head­quarters whereof is outside that State, shall be deemed to be a dealer for the purposes of this Act.

Explanation 2: A Government which, whether or not in the course of business, buys, sells, supplies or distributes, goods, directly or otherwise, for cash or for deferred payment or for commission, remuneration or other valuable consideration, shall, except in relation to any sale, supply or distribution of surplus, un-serviceable or old stores or materials or waste products or obsolete or discarded machinery or parts or accessories thereof, be deemed to be a dealer for the purposes of this Act;]


Regards

CA parvinder Singh

Dear Expert,

We are in retail business activity,

Vendor is collected the tax @ 12.5% of some products from our side but as per the vat act the actual rate is 5% and we are sales the products with 5%.

So the above case, can we take the full credit or only 5% is allowable

can we claim the MVAT input of Purchases for the office use i.e.Glasses Doors, Furniture etc for the purpose of Set-off in return?