Dear Sir,

A prop firm has purchased Mould Machine:

Mould Machine : 2090000.00
Excise : 209000.00
Ed Cess : 5000.00
CST 2% against C Form 49000.00

Total Payable : 2353000.00

What entry should I Pass for Booking Fix Asset. The Firm is Manuf. he pays Vat,Cst,Servicetax.

Can he get benefit of Excise Duty & CST Duty or all the Amount should be capitalized.He Had paid 27000.00 Transportation & 11000.00 Installation Charges.Please give me the perfect Idea & entry and logic to be used.

Transport,Excise,CST all shoud be Capitalized with Machine

Thanks & Regards

what is the high sea sale treatment in accounts as well as in filing VAT Returns.

Respected Freinds,

I am a propreitor of business and want to apply for duplicate VAT registration certificate and also change my business name in that VAT registration certificate.
Also i have to add certain additional purchase items in it. Kindly help me with the procedure for the same

What is 'h' Form Sales? Who issues 'H' Form?and Why?

Dear All,
In case, a part of the Interstate sale made is returned and the party is asking for a Credit Note, how will the CST @ 2% charged at the time of sale be treated. Do we have to deposit in Govt. Depositry the whole amount of CST charged on the Bill ot it will be lessened by the amount of Sale Return (as we do in the VAT).
Regards,
Vipin

We are Refractory manufacturing company in orissa.

As we avail ITC from VAT purchase.

We sale our product within the state, CST sale and Export sale. Our 60% sale is CST and Export.

My query is how we will adjust ITC for paying the Tax. Is it fist we adjust the VAT payable, after that if the ITC is left then we can adjust with CST payable. or In a proportionate basis, Please guide us in which way, we will adjust the ITC under Orissa VAT rule.

If I purchase a car ( In Mumbai ) , I will pay Vat @12.5% . But I do not get any Setoff on that . Now if I sell the same car within a month , then once again I have to charge Vat @ 12.5%.
Then even if I sell the car for the same amount ( Price) at which I purchased , I will be loosing Vat amount.
Whether My understaning is coorect or is therte any provision for not charging vat when i sell the car with in a month ?

Please advice me

As per the rules, we are required to file a yearly consolidated return of VAT by 30th june 2009. the company filed the annual return for the year 2008-09 by december 2009. there was an increase in the vat credit. i want to take effect of it in the year 2009-10. what should be the accounting treatment for the same. how should the journal entry be passed to include the increased vat amount in my books?

Dear Sir,

We are doing business of property deveolpers, whenever we purchase the steel, hardware items within state, we are deducting VAT TDS,

Now if we purchase the material from interstate TDS is applicable or not ? we are purchasing material against C form.

Rgds/Hiremath

software development co vat 4%is applicatble for annual technical support or annual maintenance contract on the original software was supplied by us