DEAR FRIENDS,

IF SOMEONE PURCHASES FIXED ASSETS AND CLAIM SETOFF IS THERE ANY REDUCTION IS TO BE MADE? WHAT WILL BE ENTRY TO BE PASSED IN ACCOUNTING.

PLEASE REPLY

A dealer is regularly(trading unit) purchasing from the local registered dealers @ 12.5% which in turn sales @ 2% against Form-C. Here, in every month, 10.5% of tax is found excess. What is the maximum time to claim such excess by the dealer? Please reply under TNVAT Act.

Since the father of the assessee had expired, the existing PGST(before Puducherry VAT) had been closed on 30.06.2007 and the sale invoice has been prepared to transfer the stock to the legal heir(son) who in turn gets a new registration under Puducherry VAT w.e.f. 01.07.2007. Is is possible to get the input VAT relating to the transferred goods received from his father? If so, please reply with reason. In my view, when the goods are transferred to his son(legal heir), the inherent meaning is transferring of liability on such goods is also exited and hence the legal heir is eligible to get the input vat relating to the transferred goods from his father's business(who has already expired and whose licence is closed under old PGST Act)

Pls Help me on this situation
1) I had registered for MVAT on 30 Mar where my turnover was rs 8.5 Lakhs
2)My turnover limit had exceeded on Oct 2008
3)what will be my mvat liability to pay
i.e a) 850000*4%=34000
b) 350000*4% (850000-500000)=14000
and whether the input credit on purchase can be taken in to consideration while paying mvat

Sir/Madam,
I'm auditing in a manufacturing company where they use oxygen, co2, etc. cylinders in the process and the supplier charges VAT on holding charges of cylinders beyond the free holding period. I'm unable to judge whether the supplier is entitled to charge the same on holding charges. The holding charges are seperately mentioned in the bills. Please help me out on this.

I want to know the procedure or FOrm which is to be folloed or submited in case dealer holding VAT registration certificate wants to add more place of his business under one registration certificate.

Please let me know the Form required.

what will be the valuation of stock in case of I st point mrp tax on medical products??

Hi

WE are amnufacturing Company. My sales for 2008-0 is roughly 35 lakhs onluy and we mostly are into interstate Sale

My Querry is

As per customer purchase order they have included CST @1%

but since we are in haryana rate should be 2%
please confirm wether i am correct in charging @2%

Secondly

What is last date for deposit of tax under CST and can ii Adjust the VAT paid on input against payment to be made for CST.

lastly last date for return for CST and VAT

thanks in Advance for Help

PLZ BRIEFLY TELL ME THE CONCEPT OF VAT

Proprietor is having business of readymade. He is following Financial year. They are issuing tax invoices, therefore they have bill book which is seraily no.ie.say 1015,1016 & so on.
So they have to continue that bill book even after over of financial year. Or they have to start numbering 1,2,3 & so on after over of one finacial year. So from april they have to start from 1,2 & so on or they can continue same bill book over the years.