One of Our client is interior decorator doing interior work he has opted for composition scheme under works contract so in given scenario the dealer gets the set off reduced by 36% i.e. if 100 Rs vat paid towards purchases than dealer will only get set off of Rs. 64 which is local purchase in our case we have local sale + OMS sale so what we have done is taken ratio of Local:OMS sale and than bifurcated the set off according to the ratio for Example 40:60
1)so my Query is that should we reduce our full set off by 36%???? or
2) reduce the local sale i.e. 40 by 36% and take full set off against OMS sale ???

i want to know whether vat is applicable on transportation charges incurred while purchasing goods or not

if it is applicable then what % will be charged

Dear sir,

Some reason my co. is not filled TDS return from AY- 2008 - 2009.

I Want to know that how much penalty & interest would be charged on amount.

Please sir tell me.

Beat Regards

Amol

Can someone enlighten me the current KVAT provisions pertaining to a Pharmaceutical wholesale dealer.?
Actutally while vouching i find two prices one being MRP and the other being the trade price wiz less than MRP price. so iam not clear with cocncept of vat calculation.

When do we have to make VAT Payment i.e Monthly, Quarterly etc??? and what is the Due date of Payment and please tell me the Interest Rate on Delayed Payment and its Calculation thereof

My assesee has voluntarily registered under MVAT as a dealer in computer spare parts & electronic appliances. For Oct to Dec 2012 he has not paid MVAT before due date neither he has filed MVAT Return. He is Non audit assesee. My query is
1) Whats due date for non audit assessee for paymnt of MVAT and filing MVAT returns in case of Voluntary registration?
2) Also if the penalty of Rs 5000/- for non filing can be adjusted against the Initial deposit of VAT paid to the dept?

I booked an under-construction flat, the agreement of which was executed on 1st Feb 2010. The agreement value amounted to Rs. 40,11,000/-. Now the flat is ready for possession and builder has demanded payment of VAT at the rate of 5% of the agreement value which is Rs. 2,00,550/-.
I understand that the issue of 5% VAT is still pending in the court and final verdict is yet to be received.
As per my understanding the developers are allowed to compute the VAT using any of the following options:
1. Composition Scheme U/s 42 (3)- Under this scheme developer has to pay 5% tax on the agreement value. Land deduction is not available. Input tax credit is available subject to the reduction of 4 per cent.
2. Actual Expense Method U/r 58- Under rule 58, the deduction of Labour service charges is available on actual basis. Land deduction is also available. Set-off will be calculated subject to the condition u/r 53 and 54.
3. Standard Deduction Method U/r 58- Under rule 58, the deduction of land cost will be allowed. Thereafter 30% standard deduction from remaining amount will be available as per provision to sub-rule 1. Set-off will be calculated subject to the condition u/r 53 and 54.

As per these the developers can claim input tax credit. However the benefits received will not be passed on to the flat owner. Hence please advice what are the options available to me to reduce my VAT liability.

If the developer insists me to pay 5% of the agreement value what should I do to ensure that he passes on the benefit of input tax credit /favouring judgement to me? Please advice.

I had entered the Firm name during registration for Maharashtra VAT. However due to some reasons, I want to change the firm name. The registration certificate is not yet granted and nor the application form is submitted. Further the basic details are also not editable. Please guide.

I have query on the below stated situations;
1) whether Vat is applicable for Transport service provider?
2) if above answer is Yes, then what are the condition that needs to be fulfill?
4)if delivery is out side the state then whether VAT or CST on transport is applicable?
5) If Yes/No What are the conditions?

I am an hardware dealer(Plywood,glass & other hardware items)in Mysore.I purchase goods from other parts of Karnataka & also interstate purchase. Am I liable to pay Entry tax.