Our co at daman & office at mumbai our tin registration from daman when we purchase some material from mumbai then party charge 12.5% vat so how book this?

But E-return Annual Revise Option is not highlited

Dear All,
I have confusion about purchase entry of month ending that which date (Invoice date or MRN Date) we must be followed when entering purchase, if we are following Material Received date is it wrong for Tax Crediting?
For example when we purchase a material at 31/3/11 invoice date might be 31/03/11 but the same material receiving us on 03/04/11 so MRN Date will be 03/04/11., so my question is

1. How which date we must follow when we enter this invoice into accounts?

2. If we are following MRN (Material Receive note) date, is it wrong as per the rules of Income/ Vat/ CST Tax Act.?

3. If we are following MRN (Material Receive note) date, when we issued form C/F etc for quarter or year.

Can any one help me to solve this problem.

Thanking you
ANIL KUMAR JAIN
09873551230

We have placed an order to M/s.Auma Enterprises who is the manufacturer of actuator spres. In his quotation he has quoted ED@10.3% and CST@2%against C form.he has requested to prepare the Purchase order on his dealer's name M/s.Techmech India. Now Techmech india has submitted a proforma invoice by quoting vat 14.5% extra instead of CST@2%.Now my question is what is the applicable CST/VST rate in this case.

Sir,
Pls. guide me on the following :
A company is having 2 businesses under one Vat TIN. 1st Business is of restaurant under composition scheme and 2nd business is of retailer.
My querry is can the company claim the sett off of excess purchases tax paid of retail business against the VAT payable under Composition scheme of restaurant business.

Secondly whether 2 separate Vat returns are required to be filed or only Form No.233 is enough ?

Thanx & Regard
Milind

Dear All,
One of our client is a foreign company (A), recently established its India Private Limited Company (B). Now B was to import goods from A and sell it to local buyers here in India.

My question is - can B first get the goods imported and while the ship is in sea, enters into high see sales agreement with local buyer? Having done so, will VAT will be applicable. Are there any case laws or past precedents like such, of importing and effectively paying no VAT tax? Please share the information

Regards,
Rahul

Dear Sir,

Kindly let me know whether VAT Input on Capital Goods allowed to Traders or not.

If yes then please tell me claim procedure(No. of Instalments etc.) for the same under TNVAT.

Thanks & Regards,
Arvind Aggarwal(CWA)

We are the manufacturer of carpet fabric of car interiros and we are getting the fabric materials from our mother plant gujarat which is declared as exempted goods there and our query is while submitting vat 100 returns where we have show that goods either in stock transfer or exempted goods purhcase column

Today i was doing a company's tax audit and i noticed a journal entry which was as follows:-
VAT Tax Payable A/c Dr.
To Income a/c

So i asked my senior about the same and he replied that it happens when people want to save or get rid of tax liability..

Please suggest whether the accountant was correct in passing such a journal entry..
Thanx in advance!

We send our product through “Branch Transfer” to various States. Previously our product is not excisable. So we give Form “F”on “Net Realisable” price. But from 13th. March’11 our product is excisable. So we pay Excise Duty when our product despatch from the Factory Gate. When we Sale we recover the Excise amount from the dealers. My Question is in what price we will issue Form “F” whether it is inclusive or Exclusive of Excise Duty.