A sole proprietorship concern running a showroom wants to sell all capital assets and stocks to a partnership concern at the book values as on 31 mar 2010 as a going concern.. The sole proprietor is also an existing partner in the partnership business.Is Vat to be collected on such transfer. If so at what rate?

it may be noted that the building on which the show room existed belong to the sole proprietor. Now the building is proposed to be let out to the partnership on rent and business continue to operate in the same premises as a partnership concern in the name of the partnership firm.

we are in chhattisgarh our client in mumbai & supplier is also in mumbai. we placed an order to supplier to supply the consignment to our client of mumbai under 6(2) transection or sale in transit basis (E-1/E-2) basis. he is charging VAT for it. is it currect porcess. we are insisting him to dispatch the consignment against c form & but they are saying this is wrong process please explain it throurh proper notification & circular reference.

how much amount to be deposited to bank to file a nil monthly or quarterly and half year return ?

Recent changes in sec. 9 & 10 (VAT credit) w.e.f 01.04.2010 says that VAT credit shall be allowed proprtionate of the goods which have been put to sale. What does it mean. Please clarify.

whether vat credit can be taken on indirect material purchase? wht is the eligibility procedure and wht is the % of eligibility? Plz reply immedieatly

Dear Sir,

Can you tell me the process of online e-filing return of tax and how we can create xml data file.

Thanking you,

Your's Truly

from
Kamlesh Singh

Hi,
One of my client is providing after sales services of Electronics products. Extended Warranty Contrac Cards EWC Cards)is sold to customers on which Service Tax is collected. Now question is Whether VAT is also chargeable on EWC cards?. Furher, in warranty pariod Parts are replaced free of cost. Whereas while selling the Card, Parts value cannot be define as it is likely to be replace in future.
Pls advice whether VAT is chargeable? if so, on which ground VAT wil be charged?

what is meaning of interstate and goods outside the state

I am to start a fashion designing business, wherein i will be designing cloths, get them stitched and will sell them to the end user.
Now before starting i want to budget the expenses, basically i want to do the feasibility analysis.
It is going to be a proprietorship concern.
Querries:
1)I want to know the VAT implications on such business from delhi.
2)Min amount of turnover should be Rs. 60 lacs for the business to get the books of accounts audited?
What would be the best business structure from the point of view of least tax payment; wether it should be proprietorship, partnership or what?
3)Maintenance of books of accounts is must at any turnover?
4)Formalities for formation of proprietorship..i.e. the name of the concerns is to be registered somewhere or not?
Any sales tax no. should be taken?
Any shop establishment certificate to be taken?
(I will be working from home only).

Waiting for the revert.
Thanks in advance
Juhi Gupta

can we claim input credit on spares used in the process of repair of machinery?
If we get a tax invoice from our repairer for repair of such plant and machinery, can we claim a tax credit under DVAT?
If yes, is it a capital good or other purchases?