One of my client is doing business of sale purchase of computers (taxable goods)without any firm having turnover 9-10 lacs per year from last 2-3 year.

my question is that,is it compulsory to take vat number ?

or tell how much taxable turnover needs a vat number ?

please reply soon

my qury is related to VAT & corporate Law both.
i have purchased a car under company scheme in June 2011 on 593,920.00 Rs . total amount was given by company that time.

company has deducted EMIs in following manner fom june to March

"Pmnt
#" Start of Period Annual Interest Rate Scheduled Balance Actual Balance Scheduled Payment Interest Portion Principal Portion

1 08/11 9.50% 593,920.00 593,920.00 (12,473.43) (4,701.87) (7,771.56)
2 09/11 9.50% 586,148.44 586,148.44 (12,473.43) (4,640.34) (7,833.08)
3 10/11 9.50% 578,315.36 578,315.36 (12,473.43) (4,578.33) (7,895.10)
4 11/11 9.50% 570,420.26 570,420.26 (12,473.43) (4,515.83) (7,957.60)
5 12/11 9.50% 562,462.66 562,462.66 (12,473.43) (4,452.83) (8,020.60)
6 01/12 9.50% 554,442.07 554,442.07 (12,473.43) (4,389.33) (8,084.09)
7 02/12 9.50% 546,357.98 546,357.97 (12,473.43) (4,325.33) (8,148.09)
8 03/12 9.50% 538,209.88 538,209.88 (12,473.43) (4,260.83) (8,212.60)
9 04/12 9.50% 529,997.29 529,997.29 (12,473.43) (4,195.81) (8,277.61)


Now I am leaving company .

company has asked for the recovery in following manner.
593,920.00 base amount
529,997.29 current balance amount

recovery due = balance (529,997.29)X 12.5% VAT

596247 Rs. is the due amount as per company.

My query
1. my total monthly EMI was 12,473.43 but they r not deducting interest part. iS IT OK..??? cant i ask for the rest..???
2.Is VAT rate 12.5 % applicable in this case, while resale to me from company..???

Kindly help me in this matter by advising me the way out.

Thanks & Regards
Anurag

one of client cross the turnover of purchases rs-519000 on 15/03/12 now,as per law 30 day period allowed for application if applied in next week will ok for taking tin no or applied now & give request letter for attend in next week pls guide what is right way
thanks

Dear Sir,

Kindly help in calculating the below given example - in reverse.

Base value:30000
Excise Duty(10.3%): 3090
Vat (5%) : 1654.5
Total: 347445

If some one gives a only the bill amount as 35000, how to split into seperate values - do we have on calculation method.

What are required forms and documents that are required to be Filled & submitted in Sales Tax departemnt for the pourpose of assessment in Delhi VAT..?

Hi,

when the work cantract is applicable please give some example also and why the tax rate is applicable 8% on such work since, 8% rate is not pertain to any shedule also.

Thanks in advance

Dear All

My company is a manufacturing company purchase goods locally (State of Bihar) (by paying Vat on Purchase), and after processing the same is sold out of state with CST Liability and my full sale is CST sale, so can I adjust CST with VAT input on Local Purchase and pay the balance amount ……..if not how can I adjust my Vat Input standing in books of accounts ……

Is there a basic VAT exemption limit of Rs. 5 Lakh annual turnover available for Manufacturer of aluminium products?
or this limit is just applicable to dealers?

There is one mistake in return of MVAT of our client for FY 2010-2011. we are wrongly entered CST adjustment amount in wrong coloumn (BOX 10B (b) instead of Box 10B (c)). but we are already revised return under s 20(4)(b). so shall i revised it again.if yes then under which section? please guide us for same.

sir

Is waybill (manual or online)is required, if the goods are brought or send through Railway.If required then who will check, sealed & signed the waybill & where it will be checked.

As in the road transport the waybill are checked in the state border, and it is sealed and signed by the sales tax authority.

Please guide and provide the detail procedure


Regards

Amit Kumar Thakur