raw material purchase from local - Rs 400000 + 4% vat
Raw materials interstate - Rs 500000 + 2% CST
Import - Rs 600000 + custom duty 15%
profit margin - 1/4 th of sales
Net vat payable - ?

raw materials
Rs 600000 + vat 4%
Rs 500000 + vat 5%
Rs 400000 + vat 12.5 %
Rs 100000 + CST 2%
profit - 20% on cost
Sales are made in the ratio of 80% local and 20% intership

Note - vat on local sale 12.5 % and interstate 2 %

Dear Sir,

1. Company has sold goods to M/s Imperial Auto Industries, Pantnagar during last qtr of 2009-10 raised invoices accordingly. The customer acknowledge the purchase and issue the “C” form for such purchases.

2. We have submitted the “C” form to appropriate authority and our sales tax assessment has already completed for 2009-10.

3. The customer has returned material worth Rs.918000/- vide invoice dated 06/04/2010 and reduce the value from the total sale invoices of QTR 1st of 2010-11 and send c form from reduce amount.

4. As the sales return is pertaining to previous year and our first sales in 2010-11 is on 16/04/2010., can we will be able to explain the deduction of Rs.918000/- to authority while reconciling the sales of the year 2010-11

In case yes that please guide us how to show in the return

Thanks & Regards

Kamlesh Barod

Dear sir,


We are manufacturing Iron and steel (TMT Steel).We have interstate purchase(2%"c form) and now we have started interstate sale also.Should I set off cst input with cst out put.We are from kerala.


Regds
Shyamlal.K

Respected Sir/Madam,

My friend was decided to commence a business. His friend was advised him to get TIN number. My friend got the TIN number before 6 years.

But, after getting the TIN number, my friend had not continued the business. Whereas, he did not cancel his TIN number allotment.

Meanwhile, His friend who advised to him, has been misusing the TIN number. One day, after six years, my friend received a notice stated that he had to pay 14.5 Lakh as sales tax or VAT.

Thereafter, my friend contacted sales tax office in person. They told "There are various transactions made using your TIN number to the tune of 1 Crore. Hence, you have to pay the said amount as VAT".

Afterwards, my come to know that his adviser has been misusing his TIN number.

Question :

What is the remedy for the above said query? Please advice to save the poor person.

Thanking you
v.sundaresan

Dear sir

cst is applicable for input credit vat taken.

whether cst liability can b set off against vat input credit

Dear sir,

In the speed meter manufacturing company, if we purchase the raw material i.e wire at the rate of 5% vat and then after production we are sale of speed meter i.e finished goods.In this case, what will be selling vat rate which we have to added in selling value.

Pls give me a valuable and meaningful instruction for regarding this matter.

Thanks & Regards
Mahesh Jain

Dear all
I want to know if a person sales goods directly to customer(not a trader or dealer) online from Maharastra to Kolkata whether is it possible to Charge CST as it require also C Form ? If yes then is it possible that I can comply all the requirements regarding C Forms on behalf of Customers. Pls Suggest.

please tell me what things to be considered while doing audit of vat