A Firm undertook a contract for supply of good in 2009. As per terms of esclation clause in contract the buyer had to pay extra for increse in price of material, labour to supplier. The whole goods under contract was supplied in 2009.The applicable rate of vat at the time of supply of good was 4%

The supplier raised bill for price variation in 2011 as per esclation clause of contract. The applicable rate of vat at the time of issue of price variation bill was 5%.

The contention of supplier is that whole goods were supplied in 2009 and p.v. bills are just of rate difference, hence only 4% rate should be applied on P.V. bills.

I would like to ask what rate of Vat should be charged on P.V. bills, either 4% or 5%

kindly advise stating relevant section of law.

Further kindly advise what will be answer in case of excise duty in same situation.

thanks
naresh sharma

A Co whose bussiness is just aquaculture & not processing the fish. they just cultured the fish & sold to other companies so whether Vat will be applicable on that sale or not?

The above ans may be NO. then in that case what about Vat credit received on Material rece by the company like printing & Stationary & other can they claim refund of such vat credit or they have to exp out that vat amt?

Whether they have to file Vat Return or not?

Hi, One service industry, is transferring the unit and selling the assets, whether VAT need to be registered and VAT is charged for this one time sales invoice.

ple let me know about the Procedure of VAT return filling and about the Forms required to be filled.

Hello,

I have a furniture rental business. Basically, I have two models. I either buy furniture and then rent them out or I rent from manufactures and rent it out again.

Do I need to pay VAT on the service that I provide?

Dear all

We had done a civil work in SEZ Unit
The contractor had deducted WCT
Is their any exemption for work done in SEZ under KVAT
Please suggest

urs
purna

sir i m doing audit of a firm where there is interstate purchases,,, of which they do entry : puchase a/c dr
cst a/c dr
to party
which is perfectly OK
i want to know what will be the treatment of purchase return,,within 6 months and beyond both... what vl b the journal entry of that with example if possible


plz rply soon its urgent

Goods are exported and store in the bounded godown of custom and directly sell to the purchaser, in this type of transaction vat is applicable or not????

Dear Experts,

We have a shoe wholesale & retail business started recently in Bangalore. We purchase from other state and sell for govt office & pvt factories.
1. Local tax @ ?
2. Against C formCST @ ? .
3. Without C Form CST @
4. E-Sugama is mandotory

Thanks in advance

Dear Sir
We are working in Uttar Pradesh as a contractor of civil work. Suppose 3 parties are involve in this project.

Party no. - (A)(contractee) has award the contract to (B) and deduct the TDS(UPVAT)@4% on payment and

Party no. - (B) has sublet the contract to C (Rate fix)

Now my question is whether B will deduct TDS on payment made to C or not ? If yes then what will be the rate of TDS(UPVAT)? (Both B and C are in compounding scheme)

Please clarify.