Sir,
One of client is saleing cement which attractes VAT @ 14% in rajasthan.
Suppose Company's Billing (i.e. Purchase amount ) is 240,than Client have the input credit of = 240*14/114 = 29.47 RS,
Where Client is the wholeseeler who sale the same @ 230 Rs PB,output credit = 230*14/114 = 28.24.
After this company gives the credit of 12 RS to Our client without recovry of VAT.
Now Our client have an excess of Input Credit on RS 10 .
Now my ques. is whether he will be able get the refund of that or may be adjusted in next Vat return.

what is the due dates of filing return of Vat( Monthly & yearly.)

clarify the sale outside the state and sale in course of inter-state sale with example

Dear Experts,

We brought Iron/steel racks which will be used in stores and assembly section. In books of account we have capitalized under plant and machinery block as per company act. whereas in Karnataka entry tax act, plant and machinery defined as plant and its accessories, parts is liable to entry tax, based on this definition racks will not come in plant and machinery hence no entry tax on racks.

Kindly put your valuable opinion on the above contention.

Regards,
Lokesh BV

hi,

our consignment had been detained by the checkpost authorities since the invoice address and delivery address are different. Eventhough the distance between the two was 5 kms only.

Hence we were instructed to pay the penalty alongwith advance tax for that consignment.

Can anyone tell whether we can get the refund of penalty amount and advice me what documents are required to submit to the CTO.

Your reply is most awaited.

If "C" Not Taken From department And oms Goods Purchased then what is the reporting requirement under form 704.

I've not quite understood the following merit and demerit of VAT-

MERIT:
"As tax burden is rationalised, prices in general will fall"

DEMERIT
"The merits accrue in full measure where there is only one rate of VAT and VAT applies to all commodities without any question of exemptions whatsoever. Once concessions like differential rates of VAT, composition schemes, exemption schemes, exemption category goods are built into the system, distortions are bound to occur and the fundamental principle that VAT will totally eliminate cascading effects of taxes will also be subject to qualifications."


The DEMERIT is a bit lengthy, sorry for that.
What do they really mean?

I'm very very thankful for your time and help.
Thanks a lot.

plz explain variants of VAT in simple language and give example

What is Qualification Required for Sales Tax practitioner enrollment as per Maharashtra Vat.
as per my knowledge b.com is also sufficient.... please guide me

Respected Sirs,

We buy mango pulp paying 5% VAT, selling to merchant exporter based mumbai against form H for their export, in this deal, are we eligible for input credit of 5% VAT we pay in TN.

Thanks in advance for your advice in this connection.

Murugan