Dear experts,
Plz let me know the difference between E1 and E2 sales,

Plzzz reply....

Is it compulsory to take vat registration ? I am in maharashtra. Can I Purchase from unregistered dealers and sell to unregistered dealers ? My turnover will not exceed 10 Lacs. Any consequences from tax authorities ?

On Nov 27, 2015 9:36 PM, rahul mehta wrote:
Dear Sir

We read your article on tax audit.

Can you guide us

As per sales tax rule the vat audit is compulsory for turnover of 1 crore from 2013-14.

Now how is turnover defined is my question in VAT Audit

Sale amt + MVAT amt = Net Sales
9980000+ 1100000 = Rs. 11080000/-

Sale amt without VAT is turnover. Or Net sales is turnover.

VAT Audit to be done or not qualifying as per rule limit 1Crore.

Awaiting your reply.

Rahul
9324706211.

Lenovo P70-A

Gujarat Dealer sale goods to Maharashtra dealer and Maharashtra Dealer Sold same goods to Karnataka Dealer ...What are the tax implications & Which forms requied to take by Mahrashtra & Karnataka dealer? Maharashtra dealer is only agent between gujrat & karnataka dealer..

WHY ADDITION 1% & 2.5% VAT IS CHARGED

What is the due date for 13A KVAt F Y 2014-15

Dear Team,

Just want to know we are purchasing new furniture for office,can we purchase furniture in c-form.

my cst assessment is going for 2007-08 i have all c forms for that period for oms sales but my sales file has been lost and i filed a police complaint also i have fir copy but the asessing officer is not allowing and wants to tax at full rate is their any way out how this problem can solved

My turnover is below than 1 crore that's why I am filling quarterly return in Up Vat. But here I am with a confusion that tax is to be paid on monthly basis or quarterly basis in filling quarterly return?

Plz answer as soon as possible.

As per sales definition of MVAT Act, sales price includes deposit received from customers if not refunded within six months.
Nature of business for a company is that it trades in LPG sectors. It imports LPG and fills them in cylinders after LPG is brought at filling plants through its terminals.
When customer comes for LPG then a deposit equal to cost of cylinder is asked for per cylinder which is accounted for as deposit received from customer by assigning special GL indicator in SAP.
When cylinder is returned to company by customer after its closure of business with company then security deposit received is refunded. It may take 1 month, 2 months or even years i.e. its uncertain that when deposit will be refunded.
Now, as per definition of sales price department of sale tax of maharastra has asked for VAT to be paid on cylinder deposit received from customers.
1. As deposit is not revenue for company, is it compulsory for company to pay VAT on deposit as per definition of sales price?
2. Is there any decided case law in this respect either against assessee or revenue?