Dear all my query is, in FY 10-11 we have excess input credit of Rs. 450000 in March 11 in Maharashtra VAT but accountant is not claim for refund & this time i am try to claim refund in Form 501 but file not excepted by Mahavat website because of refund should claim within 18 months its before 30 Sep 12 in this case. So Please suggest me other option for i can get my refund. Please reply....

We are dealer of various brand cement like ambuja, JP, ultratech, Virat etc. in Maharashtra. We purchased cement with 12.50% vat and sale with same percentage. But our one supplier has having certificate of exempted sales. Their invoices stamped Exempted purchase & they didn’t collect vat on this purchase invoice. And When we going to sale this cement we do not collect vat separately on this cement sales. In our vat return we showed this amount Purchase Exempted and Sales exempted. We do not collect vat on this type sales. It is correct method of calculation Mvat liability? We have right to sales purchase exempted item without vat(Exempted sales). Please guide.

I AM EMPLOYEE OF CONSTRUCTION CO.AT SURAT, GUJARAT.I WANT TO KNOW THAT WE PURCHASE GOODS WHICH IS NOT A CONSTRUCTION MATERIAL(COMPUTER,D.G.SET,RMC MACHINE)WITH TAX INVOICE,HOW CAN PASS THIS ENTRY IN TALLY ERP9

A registered dealer in Mumbai sale their car (fixed asstes) on Rs. 250000.00. I want to know whether VAT is applicable or he have to pay any tax on this sale. If yes, then what is the amount and section as per Act. Kindly do the needful.

In my office we have three computer as part of Fixed Assets now i had sale one computer form out of three.
My Question id
1) Vat is Applicable ?
2) If Yes then why ?

I am calculating vat payable by a builder from 2006 to 2010. Should I take actual purchases as per Income Tax return or take purchase proportionate to the area sold(Flats sold)? Sir/ Madam can you please give me your email ID or contact number so that I can contact you in case of difficulties.

Hi,

Querry:
Can a retailer opting composition scheme in maharashtra, claim capital assets purchased as a deduction from the turnover. Whether retention of 3% will apply.

Regards

Dear Experts,

Please clarify the difference between levy of CST and Entry tax.

It is obvious that CST will be levied on goods purchased from another state but when entry tax is levied?

Regards
Samiksha Kansara

Thanks in Advance

My client is builder and developer, they have take VAT registration no.

Which form is Applicable to builder for VAT return filing?

I got the letter from builder to pay the VAT portion @ 2.81% in September 2012, for the flat purchased in 2009 (under construction), possession given in July 2012. VAT issue was informed to us at the time of purchase.

1) In his calculation given below, he has calculated VAT @ 4% & 12.5% .
2) Following is the calculation:
Gross Receipt (after deduction of land cost Rs.37153787) Rs. 242488134 without any deductions in respect of sub contracts expenses & thereafter deducted standard deduction of 30% from the above figure to arrive at the taxable figure of Rs. 169741694. Tax is calculated at 4% - Rs. 4374113.00 & 12.5% - Rs. 6223862 & deducted set off Rs. 2743097, net tax - Rs. 7854878.00 (2.81%) - not able to identify how the % has been taken out?

Queries are as follows:
1)a) How is the VAT calculated without any expenses incurred (on the basis of gross receipts)?
b) Builder has not taken into consideration the expenses incurred through sub contract works?
2) Can builder collect the tax without providing raising an invoice for VAT collected? (Note that builder is giving us the receipt for collection of tax)
3) Builder has to take into consideration the VAT input credit while arriving at the vat taxable portion