As per sales definition of MVAT Act, sales price includes deposit received from customers if not refunded within six months.
Nature of business for a company is that it trades in LPG sectors. It imports LPG and fills them in cylinders after LPG is brought at filling plants through its terminals.
When customer comes for LPG then a deposit equal to cost of cylinder is asked for per cylinder which is accounted for as deposit received from customer by assigning special GL indicator in SAP.
When cylinder is returned to company by customer after its closure of business with company then security deposit received is refunded. It may take 1 month, 2 months or even years i.e. its uncertain that when deposit will be refunded.
Now, as per definition of sales price department of sale tax of maharastra has asked for VAT to be paid on cylinder deposit received from customers.
1. As deposit is not revenue for company, is it compulsory for company to pay VAT on deposit as per definition of sales price?
2. Is there any decided case law in this respect either against assessee or revenue?

I got tin no in August 2014, but no transaction made up to till date, e return also not made, it can possible to made nil return for past period, plz give full details

Hi sir, As we know that when a contractor builds a building then VAT is imposed ie he charges VAT from contractee (sale under works contract) and the contractee deducts WCT from the total amount of bill and makes balance payment to contractor... I want to ask that as per VAT act works contract means "contract for carrying out for cash any construction etc" so I want to ask that construction here means building?.. I mean for eg if today I get my house constructed and I sale it then will I charge VAT from the person who purchases it? Or the person who constructed my house will charge VAT from me?.. It will be very helpful on your part if you can help me with the same..

Dear Member(s)

please give me ur valuable suggestion

A pvt comp purchased Machinery from lark industries ltd.against Form C @2% his New Factory

Whether the purchasing com. can issue Form C to Lark industries against purchase of machinery ( capital goods)



Regards

Mukesh

Hi, I want to ask whether VAT is applicable on property/sale purchase?.. And if not then can you tell me regarding the taxability of above ie if VAT not applicable then what tax is applicable on property/ sale purchase? It will be very helpful on your part if you can help me with the same..

Sir,

If a trader purchase Pepper from Unregister Dealer (farmer) and Sell to a register dealer then what is the treatment of taxes in filling the vat 100

I am Starting restaurant business in Mumbai now i want to purchase Kitchen Appliances from Delhi who will charge CST. Meanwhile i will apply for VAT NO. also. Whether I can issue C-Form and if So how to show effect of the same in return ???

Please suggest the type of tax applicable in case of below commercial transaction.

Vendor delivers the goods at Customers place which is situated in other state.(here vendor and My Co. in same state).

Query:
1. Please confirm whether vendor will charge VAT or CST to Our Co.
2. My Co's Invoice to Customer will be CST and If Vendor charges CST to my Company in his bill, whether i have any provision to avoid dual tax for same transaction.

I made of interstate sales on 2% against C form on 2010-11, till date he is not sending the C form is not available through phone or direct, now sales tax asking for differential amount i.e. 13.5% and till date penalty charges, how can i claim the charges with purchaser, shall i go legally

one registered dealer in Maharashtra supplied some material at Gujrat port and raised bill at Mumbai office with VAT as per MVAT rate instead of CST rate. Whether as a buyer l should pay MVAT or CST to the supplier in case he supplied material out of Maharashtra?