Dear Sir,

Please let me know whether an awarder is liable to deduct tax at source @ 8% under sec.10 of KVAT Act 2003 , if the contractor opted for compounding scheme under sec. 8 the Act to pay tax @ 3%.

Thanks and Best regards,

CA Sajana E V

I'm an imported Coal supplier with Business established in Chennai, Tamilnadu. We buy Coal from various importers on VAT basis. We do local sales as well as CST sales but majority (almost 90%) of our sales is CST sales. In our case we buy cargo by paying VAT@5% and sell the same by charging CST@2% to our clients and we have been carrying forward the excess difference of 3% to next Month. This practise has incurred a lot of ITC. But now there is an amendment in TN VAT rules which explains from November ITC can be carried forward only if appropriate inventories is reported.
1) Now I was attempting to file my November Month return. I have an ITC of Approx 11 Lacks but stock as per my ERP is only 300 Tons, which explains that value of stock is just 1400000 lakh Rupees only on which i can claim an ITC of 70000 Rupees only. Can any one help me in resolving this situation .
2) Secondly it seems there is another amendment where the differential VAT should not be carried (as like before) forward instead that should be reversed back in that month return. So my question is, is this amendment true?

I see there are so many experts over here. I sincerely and humbly request somebody to help me over here.

Hello


Anybody explain how to get form'c' for below cause .

I made return with party tin :27900670305 insted of 27900670305C.So I haven't received my form'C'.


Thanks in advance .

Sir Under AP VAT I would like to know the tax rate if the Products/goods are given as free samples to prospective customers

Thanks in Advance

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