Dear all

No Interstate sales ware made during a tax period and only sales returned from the customer therefore CST Liability is negative. please tall me that what should be done

Could anyone let me know the accounting treatment for VAT and CST.

Also difference between C forms and way bills
about the purpose of the above forms.

I would be Thank you for your valuable reply

Sir/Madam,

We are auditing purchase in Utranchal, we have seen that most of the purchase are from outside Uttranchal, and each invoice from other state come with Form-16 of VAT issued by the purchaser from Uttranchal.

I want to know What is form 16 and why it is used.
So far as I knew that in case of purchasing goods from other state the purchase have to issue Form-C to procure goods with lower rate of CST.

So why Form 16 is used here instead of Form-C of CST ?

How much Cenvat credit is available? what are the requirements for claiming it?

Dear Sir,

Please help me to file the following from DVAT Return and what is the procedure to find the Sales Tax Certificate from Department.

Details of Sales Tax Assessed as ST Clearance Certificate for last 3 years.
Financial Year Amount Assessed -Rs. Lakh Amount Paid - Rs. Lakh Balance to pay - Rs. Lakh
2007 - 2008
2008 - 2009
2009 - 2010
Attached Copies of Sales Tax Clearance Certificate for the past 3 years.
Regards

Rajeev Ranjan

my question is regarding applicability of VAT Audit under Gujarat VAT Act.

-> My Dealer is Registered as Non Local Dealer (NLD) Under Guj.Vat Act, having business of Leasing of Cars.
means he lease car for rent in the state of Guj. and pay VAT on Lease portion and he also pay service tax on fleet managment charges.

-> there is no other sales and purchase includes only CARS. (All trasanctions are in GUJ.) my client

now my question is, whether VAT Audit is applicable or not under following situations:

1. Only purchase of cars exceeds Rs. 1 Crore and sales below 1 crore

2. Total sales exceeds Rs. 1.00 crore but taxable sales under VAT is below 1.00 crore

Dear frnds one Query is raised plz provide immediate solution:
VAT RATE 12.5% at time when invoice was issued for Rs 1000 on 10/5/2011. VAT RATE changed to 10% on 10/6/2011.There was price revision due to which supplementary invoice was issued of Rs 150 on 12/6/2011 in addition to original Invoice. Now what rate of VAT should be charged on this new supplementary invoice???

hello

actually if a firm which has opted for composition scheme and it seems that in the year end it will cross the limit of 50lac then what should i have to do for amendment purpose n what will b the stock treatment in the year end

because some1 told that if i comes in vat scheme then i have to deposit tax on stock

so plz tell me what is the basic reason of this n wat will b the tax rate if any on stock...???

Sir,
Can a dealer can claim full set off of purchase of computer just for the reason that Computer is mainly used for business purpose?? the Dealer has capitalized the computers?? For your information that the dealer is running the business of DTP, Xerox, all related with the help of computers?? But does not trade (buy and sell) computers???

A unit located in Maharashtra, under Special Economic Zone (SEZ), manufacturing tax free goods.
In general, Manufacturer of Tax Free goods are entitle for setoff On purchases of raw material after retaintion of 2% of purchase value corresponding to manufactured goods u/r. 53 or no setoff u/r 54.

As per Govt. of Maharashtra Resolution No. SEZ 2001/(152) IND/ 2 Industries, Energy & labor Department Mantralaya, Mumbai 400032 dated 12 Oct, 2001, it was resolved at Sr. No. 6, that, all the sales by SEZ unit will be exempt from all State and Local taxes including Sales Tax, Purchase Tax, Royalty etc. If due to tax system constraint it is not advisable to grant direct exemption to the transaction, State Taxes paid would be fully reimbursed.

QUERRY –
Under which provisions this can be claimed exempt Under the Maharashtra VAT Act, 2002?
There appears no provision for claiming exemption of full taxes or reimbursement on sale and also full setoff of input taxes on purchases.
Is there any provision, notification to claim full setoff or reimbursement of taxes paid?
Kindly reply how it can be claimed?