hi friendz

i'm assigned with up vat audit of company and i've doubts regarding purchases eligible for itc. i want to know that itc is available on what kind of purchases e.g. is vat paid on expenses like repairs, staff welfare eligible for itc. please explain is above said expenses are includable in turnover of purchases.
mailid:kapoorknidhi@gmail.com

Hi, I had a querry regarding certain aspects of VAT for Rajasthan.
1. Can we claim input tax credit if the purchases are made from an unregistered dealer in case of leasing and hire-purchase transactions.

Is there any other state where ITC can be claimed if purchases are made from unregistered dealer

2.Is there any composition scheme applicable for Hire purchase transactions for years prior to introduction of VAT.

3.Are we required to pay VAT on re-possessed assets sold in cases default by the customer.

May i know that whether input tax credit is available on entry tax tax paid by the buyer ? If yes, Plz quote the relevant section of the act ..
Thanks !!

There is one sole Propritership which is being converted into partnership there was some stock in hand at the time of conversion what is the treatment of stock
will it attract Vat,or it will be regarded as Introduction of capital
CAN U PLEASE GIVE ME SOME REFERENCE OF SECTION

Sir,

I want to know whether Mvat is applicable on books(professional) sold,if yes then at what rate it will be charged & under which schedule it will fall and if the answer is no then plz give proper reference,Waiting for a prompt reply............!

We are engage in mold manufacturing.

Apart from this we also do modficiation activity when it comes after use from customers end.

For modification we are using material hardly 5% of order value.

What is the tax liability of this modifiation activity under VAT.

Pl provide information.

Dear Sir/Madam

Our organisation is having VAT Credit of Rs.90 lakhs. During the VAT Audit Department restricted some input credit on ineligible items to an extent of Rs.5 lakhs. In addition to that they imposed penalty and interest on the said 5 lakhs rupees.

My question is can we set off the payable amount of Rs.5 lakhs against the input credit of Rs.90 lakhs ?
Can we set off the penalty and interest against input credit rather than paying the penalty and interest in cash/cheque ?

Pls clarify ASAP how can we fight with the department with respect to penalty and interest ?

co. is construction co. it purchase material within and outside the state.in this way it pays vat and cst both on purchase. It charge vat, labour cess and service tax from clients.
How the vat and cst liability will be calculated? and how input credits can be availed?

Dear All,

i have to make a bill against a customer situated at Chennai, we have bought same material from chennai and we are in delhi.

it would be great help if any one could explain billing against same situation with act

With Warm Regards,
Vikas Mishra
09873443581

dear all
we sale in june rs 8000000/- and we deposit vat 320000/- in july. this sale is return on august and re-sale in september same amount we file monthly return. which amount return file in august and september. please urgent