I WOULD LIKE TO KNOW WHETHER SALES OF AN URD, REGISTERED AFTER A PARTICULAR DATE ARE LIABLE TO TAX OR NOT i.e. Sales incurred by him when he was not registered.

Say we have to deposit the VAT of rs 200 for the month.What we do is we calculate the 90% and 10% part inclusive of this payable amt, i.e rs 200*10/110 =18 and balance is 90% i.e 182. is it the right calculation or we have to calculate simply the 90% and 10% of the VAT payable i.e 200*90%=180 and 200*10%=20.So all i want to ask is whether 180 and 20 is the right calculation or 182 or 18 is the right one ?

thanks in advance.

Is VAT paid on Plant & Machinery eligible for claming Input Credit?

DEAR FRIENDS,

IF SOMEONE PURCHASES FIXED ASSETS AND CLAIM SETOFF IS THERE ANY REDUCTION IS TO BE MADE? WHAT WILL BE ENTRY TO BE PASSED IN ACCOUNTING.

PLEASE REPLY

A dealer is regularly(trading unit) purchasing from the local registered dealers @ 12.5% which in turn sales @ 2% against Form-C. Here, in every month, 10.5% of tax is found excess. What is the maximum time to claim such excess by the dealer? Please reply under TNVAT Act.

Since the father of the assessee had expired, the existing PGST(before Puducherry VAT) had been closed on 30.06.2007 and the sale invoice has been prepared to transfer the stock to the legal heir(son) who in turn gets a new registration under Puducherry VAT w.e.f. 01.07.2007. Is is possible to get the input VAT relating to the transferred goods received from his father? If so, please reply with reason. In my view, when the goods are transferred to his son(legal heir), the inherent meaning is transferring of liability on such goods is also exited and hence the legal heir is eligible to get the input vat relating to the transferred goods from his father's business(who has already expired and whose licence is closed under old PGST Act)

Pls Help me on this situation
1) I had registered for MVAT on 30 Mar where my turnover was rs 8.5 Lakhs
2)My turnover limit had exceeded on Oct 2008
3)what will be my mvat liability to pay
i.e a) 850000*4%=34000
b) 350000*4% (850000-500000)=14000
and whether the input credit on purchase can be taken in to consideration while paying mvat

Sir/Madam,
I'm auditing in a manufacturing company where they use oxygen, co2, etc. cylinders in the process and the supplier charges VAT on holding charges of cylinders beyond the free holding period. I'm unable to judge whether the supplier is entitled to charge the same on holding charges. The holding charges are seperately mentioned in the bills. Please help me out on this.

I want to know the procedure or FOrm which is to be folloed or submited in case dealer holding VAT registration certificate wants to add more place of his business under one registration certificate.

Please let me know the Form required.

what will be the valuation of stock in case of I st point mrp tax on medical products??