A manufacturing company buys some input item which is subject to VAT. A part of this input is used by the company in manufacturing a product which is not subject to VAT but to earlier Sales Tax. The company makes other products which are subject to VAT.

Now please provide your professional views on the manner in which the company shall compute the VAT credits that should be reversed for the product that is not under VAT. The company cannot do this on the basis of input/output ratio because that is complex and unascertainable.

What is the penalty for filing Belated VAT Return, If the turnover contains only exempted goods and nil tax is payable?

Ours is a 100% EOU registered under STP Scheme and operating from Feb 2005 in Karnataka. We are importing capital goods from different countries and would like to know whether this will attract Entry Tax under the The Karnataka Tax on Entry of certain Goods AND
under The Karnataka Special Tax on Entry of Certain Goods Act, 2004.

One of my Client wants to open a Genset Rental Shop, that is giving Generator Sets on Hire, Kindly advice what he has to take whether Karnataka VAT or Service Tax

If Karnataka VAT is Applicable what is the Rate of Tax to be charged and if service tax is applicable what is the rate of Tax

Do i requied to get registered for MVAT if my annual turnover exceeds 10 Lacs and i am dealing in garments.

This is rajesh working in sugar industry in Andhrapradesh.

i have some doubts relating to input tax credit eligible on purchase of machinery spares and lubricants and other purchases made by the company.

we are selling sugar, molasess, bagasse and waste iron scrap.

sugar exempted product
Bagasse 4% Tax
iron scrap 12.5% Tax

we are purchasing goods at 4% and 12.5% tax rates

Example:

Sugar Sales 1,00,00,000
Bagasse sales 5,00,000
Scrap sales 2,25,000

input tax paid

Tax paid on 4% purchases 34,225
Tax paid on 12.5% purchases 45,789

How much input tax credit can be availed (elibigle for me)

Hi Sir / Madam

I have querry regarding VAT & Service Tax.

I saw in many bills with VAT & service Tax both are mentioned, but I want to know that when it is applicable that we have to mention both the taxes in invoice.

As per my knowledge VAT will be applicable when we are selling any article or goods & service tax will applicable when we are providing any service to our client or customer.

Can anybody please tell me that VAT is also applicable on labour charges or not?

Regards
Anil

Hi Sir / Madam

I have querry regarding VAT & Service Tax.

I saw in many bills with VAT & service Tax both are mentioned, but I want to know that when it is applicable that we have to mention both the taxes in invoice.

As per my knowledge VAT will be applicable when we are selling any article or goods & service tax will applicable when we are providing any service to our client or customer.

Can anybody please tell me that VAT is also applicable on labour charges or not?

Regards
Anil

We have done more number of purchase transaction via stock transfer. For theses purchases we have to issue Form F under VAT.But we are having only two numbers of Form F. Can we issue one form F mentioning all purchase details or we we have to issue separate forms for each transaction.

VALUE ADDED TAX



1) While Production of Finished goods we take the Input Vat Credit on Raw Materials purchased for the production of finished goods in the factory.

After production we transfer those goods to different states through form ¡§F¡¨


„« How we will set off the Vat Input Credit if the finished goods are not sold in same state or some of the goods say 20% sold in same state.

„« Whether we can transfer the Vat Input Credit to other State in which we transfer the finished goods

„« Whether the Vat paid for administration work in sales office same can be taken as input vat credit.

„« If the Vat Input Credit is Excess than Vat Output Tax than the remaining Input should be carried forward or refund can be claimed.

„« Vat Paid on Capital Goods in factory as well as in Sales office whether the same can be taken as Vat Input Credit.

„« Whether Vat Input Credit taken on Capital Goods will be eligible for deprecation.

„« Vat Input Claimed & Payment of VAT by Work Contractors.

„« What is the set off procedures of CST with VAT.