Facts :

X, who is a direct exporter purchased 250 sewing machines and leased to a job work contractor,say Y, who inturn, does job work only to that exporter and for none.

Is it possible to claim exemption as per subsection of Sec.4, since there is levy of tax on transfer of right to use any good, but if the same is used "in the course of export of goods out of territory of India", the lease shall be exempted from tax.

Sir,
We are a Residential Township Construction Company.

There are two companies under our group.
Company A is under obligation to build the Infrastructure for Company B after which Company B will build the Houses.

Now at the time of issuing infrastructure construction bills, I encounter with the following queries.

1 Company A used both labour & materials for building infrastructure. How we should raise the bill? Are VAT & Service Tax both applicable? How should we calculate both of them?

2 If Company A charges both VAT & ST in bills, will Company B be able to take input credit in its ongoing activites?

3 Plz suggest any special provision, if any hit us anyways..

4 I have heard about WCT/WSC. Do we come under this?

We are in Gujarat

Plz suggest in detail…

Bhargav
97277 07911

what r the topics we should do for VAT & Service Tax in PCC
because there is no precise things available?
and also which book should be refered for VAT & Service Tax which has almost all the topics covered which ICAI can ask in the exams?
I do have JK Shah Classes Notes ANd Singhania so it would be enough or i should refer anything else??

While calculating the liability for a partiular tax period we take set off of taxes paid on purchases. But whether we have to consider stock factor while calculating set off
ie whether
Set off available = Tax paid On (Op st + Purchases - Cl Stock)
or
Set off available = Tax paid on Purchases

VAT or Service Tax

A newly incorporated firm is engaged in Advertising Agency Business (i.e. making and preparation). It designs and prints flex hoardings for its clients. It has an annual turnover of around 12 Lakhs.

The purchase bills for raw materials are of 4% and 12.5% VAT items (obviously, the firm had to pay vat on purchase) eg, it paid 4% VAT on purchase of Flex, 12.5% on purchase of clips etc. My questions are:

1. Does the firm, being an advertising agency, need to file VAT Return or Service Tax Return.

2. If the firm needs to file service tax return and charge service tax to its clients, then on what value should the tax be calculated. (Whether the cost of raw materials consumed should be considered for computing service tax or should be excluded...as the cost of all the raw materials cannot be bifurcated precisely e.g. ink used in printing)

3. Can the firm enjoy the VAT input on purchases. If yes, how?

4. What will be the best way to record purchases and sales in the books of accounts (plz give specimen entry)

5. The firm has already got VAT Registration. In case VAT is not applicable, what should be done in present circumstances.

If a person, unregistered dealer, makes a sale by raising taxable invoice bearing wrong TIN saying that he is registered dealer. Can a purchaser avail set-off where purchaser does not know that seller is unregistered dealer?

Dear Sir/Mam,

I have been auditing the Hotel. I have a query regarding wheather can the co, take credit of vat paid on the purchase of Material for the construction, furniture and fixtures, paints, saintary fitting,etc........., pls quote the relveant section as per VAT Act, it will be useful for me for the report

Hello,
We are a Construction Company building
townships.

There is an agreement between two of our
group of company where Company A is under
obligation to estblish the Infrastructure.

My query is that How Company A should
raise bills for Roads, Water-supply
networks, electric network etc.???

As both Material & Labour are used, how
we should calculate VAT on each bill?

Do we require to show VAT on each bill
separately? or we can give cum-vat bill?

At the time of filing of return, how
we should show?

One more point is that we have applied
for VAT Tin and we have started purchasing
material with TAX INVOICE. Hope it wont
take away our right for input credit.

Plz suggest in details.

Bhargav

Dear Sir,
Ours is a software developing MNC Co. also performing AMC's,and submitting VAT-120, composition of Tax, do we need to file Form 240 within 31st December ( Auditied Statement of Accounts U/s 31(4).
Turnover includes service payments, software development every thing around 300 lakhs.

Please guide me in this matter.

Regards,
AMAR.

workshop owner, working boshpump repairs
seeking vat registration, sales purchase of spare parts not one lac severny thousand, labour charges charged more than four lacs the total five lac seventy thousand, is it possible to have the vat registration, works contract registration, or not liable pl clearify the confusion.maharashtra pune