meaning of input tax credit in detail

what is the treatment for purchase made befo re register of vat

Dear Members,

its related to TNVAT ( Tamilnadu VAT)

One of the my client Purchase machinery for manufacturing goods for trading purpose.

On that Machinery purchased against "c" form in the course of inter state trade.

But type of Machinery purchase not enter in the CST certificate.

Assessing officer levied penalty for item not mention in the CST certificate.

can any one have commissioner circular relating to above issue.

and please explain .. what way its solve ?

Respected sir.

one of our party has the registered under KVAT 2003 and he is liable for vat audit as per KVAT Rules...

the party has the input credit and he is not required to pay tax...but he is wrongly claimed input credit and which is identified during the audit period... as at the year end he has the balance input vat credit...

Now my question is whether he required pay tax along with interest or he can set up the payable amount from input credit available at the year end...

pls reply urgently..

S B HIREMATH
AUDIT ASST
MATHAPATI & CO
CHARTERED ACCOUNTANT
BELGAUM

I have a manufacturing unit and now production has been started. the unit is for fmcg products. now I want to know how vat 50 & vat 51 will be used

An electrical contractor provide services like wire fitting, cabling in office etc and also use electrical material like wire, switches etc in their job.My question is it is WCT or service or any other sales and if he want to take TIN no. then which TIN no. should he take and how to get TIN no. pls rpl.

Dear Experts,
Is "cotton coated fabrics" ( knowns as artificial leather) taxable according to MVAT? Please provide with reference, of the answer.

If consignment has been sent/ despatched during Sep13 on Stock Transfer basis but the same has been received by branch office/ consignment agent during Oct13.

Kindly advise whether form F should be treated in Sep13 or Oct13.

Thanks/ regards,
Ratan Lal Sharma

Our firm is having a party to whom both service tax as well as Gujarat VAT is applicable. My query is on which amount VAT must be calculated? Amount after charging service tax or before service tax? Can anyone provide me with the actual provision related to it?

Dear Experts , from purchaser point of view Is there any provision to take input credit of Cst . Why we have to pay CST as we are not getting the benifit of credit ? Shall I claim CST input credit against Cst collected?