respected sir opningstockfor fy 2011-12=500000
purchases =1000000(inc 5%vat)
total ----------
=1500000
my sales during fy 2011-12 is 1400000(inclusive 5%vat).and i got gross profit at 10% for fy 2011-12

please caliculate purchase value put to sale.during fy2011-12.

note- vat included both in purchases and sale.

with respect to the amendment in MahaVAT as:

Amendment of section 20 of Mah IX of 2005

In section 20 of the Value Added Tax Act, after sub-section (5), the following sub-section shall be added, namely :-

"(6) Where a person or a dealer fails to file a return within the prescribed time, as provided under this section, then the said person or dealer shall, before filing of the said return, pay, by way of late fee, an amount of rupees five thousand. This amount shall be in addition to any other amount payable, if any, as per return."


My question is
1. Is penalty is required to be paid if VAT liability is NIL?
2. Is it possible to file manual return? for the year 2010, 2011 and 2012 also?

Any other way to avoid penalty if at all this is applicable?

Thank you

what is composition tax and what is rate , how we treat under composition tax , if any one purchasing at 12.5 % vat , then he can adjust this 12.5% with composition tax.

Our Company has applied for mvat 2 months backs & Registration No has not been alloted to us due to delay in pre-verification by the dept. Can I issue Tax Invoice by quoting "Applied For" in the Invoice?

PLZ guide me.

sir,


i am know the every forms of sales tax
and also want to know what is central sales
and state sales and which sales is 5%,2%, and 12.5% . what role of c forms in sales tax


sir, i request you please give me answere


Regard
Ashish kumar

I am new to CA articleship and I couldnt figure out this problem, so do care to reply:-

If I a registered dealer of J&K state having TIN No. purchases goods from other state which are taxable @ 13.5% in J&K but exempt in the other state, how much CST I have to pay if a) sale is against Form C, b) sale is without Form C. Present Normal CST rate being 2%.


Plzz do reply !!!

Closing Stock of March, 2005 is included sales tax then we are able to claim vat on opening stock or not ?

Expl: Opening Stock 10,00,000/-
Sales Tax in Stock @20% 2,00,000/-.

As per mumbai high court judgement now builders have to pay MVAT and they are started collecting from flat owners, but at what rate(@5% or 1%) flat owner should bear the tax if agreement is before 31 march 2010?

And interest science date of agreement till today will be charged on that or not?

Hello,
I need to know about the applicability of work contract tax in detail.
How does it apply with the help of a practical example.
If i being excise registered enter into a project which has supplies and service part in an outside state, then how should i show my order value to take WCT benefit. moreover, are there any other benefits? what should my billing break up be? i have heard abt NDC. wat is it in the context of WCT?
i am not registered in the other state under sales tax.
and , if i have a branch in the other state of delivery, how would WCT work?
can i DO 2% C form sale?

1. Our company is purchasing the furnace oil from with in the karnataka state. so they are charging VAT @14.5%, how much can we take the credit i.e whether 14.5% or 12.5% ?


2. In case of Intra-state purchases, how the seller calculates entry tax? Whether after Vat or Before VAT?

Please answer as early as possible?