Please provide your inputs respect of reversal of Cenvat credit, availed on capital goods, at the time of retirement of asset: Case1: Capital Asset (useful life 4 years) is retired within 1 year of its acquisition? Case2: Capital Asset (useful life 4 years) is retired after 2 years but less than 4 years? Case3: Capital Asset (useful life 4 years) is retired after its useful life i.e. 4 years? As per second proviso of Rule 3(5) of Credit Rules: "Provided also that if the capital goods, on which CENVAT Credit has been taken, are removed after being used, the manufacturer or provider of output service shall pay an amount equal to the CENVAT Credit taken on the said capital goods reduced by 2.5 per cent for each quarter of a year or part thereof from the date of taking the Cenvat Credit". What will be impact of this proviso in above mentioned cases?

Respected All,
I hv some query,
1) What is the exact percentage available for set-off on purchase of capital asset after 01-04-2008 ? (Vat 12.5% or 4%)(Under Maharashtra VAT Act).
2)I have purchase electric material for office reapiry in this bill we have received input vat 4%. Can we take claim for this as revenue expenditure?
(Under Maharashtra VAT Act)
Please give Under which VAT Section this comes.
Awaiting your valuable guidence.

WHERE TO DEPOSIT TDS ON WCT?

MY CO. HAS ALLOTTED NO. OF CONTRACTORS WORKS CONTRACTS UNDER ANDHRAPRADESH VAT RULES 2005.

NOW AT THE TIME OF PAYING THE AMOUNT WE DEDUCT TDS ON WCT . WHETHER WE'VE TO DEPOSIT THE TDS ON WCT AMT IN OUR SALES TAX CIRCLE WHERE WE ARE DEPOSITING OUR VAT? OR WE HAVE TO DEPOSIT THE AMOUNT AT THE RELATED SALES TAX OFFICE OF THE CONTRACTOR? PL. SOLVE THIS WITH RELEVANT RULES /SECTION OF AP VAT RULES 2005 OR AP VAT TAX 2005.

When Goods are sold to Any SEZ, the SEZ can issue Form I and the seller can sale the goods without tax.

Whether this is applicable to Local Sales as well....i.e. when the SEZ unit is located in mumbai and seller is also in mumbai ....can he sale the goods tax free and obtain FOrm I from SEZ.

As per Maharashtra VAT there is no such provision for exemption of tax in case goods are sold to SEZ. 'Form I' provision is only mentioned in Central Sales Tax Act. Does that mean that when sale to SEZ is a local sale one has to charge tax at Local Rates???? and when the sale is to SEZ outside Mahrashtra then one can sale the goods tax free against Form I?

We want to send our materials to outside of State for fabrication or Jobworks and after fabrication material will receive from outside state, only labour charges bill raise by Jobworker, So,please tell me,waybill needs this time two time.

We want to Import machine fist time from outside of India through Ship or Air.
So, where and when we have to send waybill if we import through Ship or Air.

We are mfrs. in AP. we have filled mar'08 return along with 200B in april'08. After filling of march return we have come to know that some of purchase bills not accounted and then we accounted in the month of feb & Mar.(Vat Purchases). We have taken input vat credit what ever the purchases accounted in the month of april'08 Return.

are we eligible to take credit and if not please refer the Rules & Sec. clearing.
Please advise

Hi Experts

Definition of Sale price under VAT Act.
“sale price” means the amount of valuable consideration paid or
payable to a dealer or received or receivable by a dealer for any sale
of goods made including the amount of duties levied or leviable under
the Central Excise Tariff Act, 1985 or the Customs Act, 1962 and any
sum charged for anything done by the dealer in respect of the goods
at the time of or before delivery thereof...

Now Whether Transportation exp. for delivery of the goods (in relation to sale i.e. from seller to buyer) incurred by seller and charged in Invoice separately is to be inculded in SALE PRICE for the purpose of calculating VAT on it.?????

Help experts..

Thanks
Rohit

Dear Sir/Madam,

Is CenVAT is applicable now? and in which States VAT is applicable of Indai now?


Kindly Brief in details regarding VAT and CENVAT.








Regards

Vendor is a Stationery shopowner. He has charged VAT on Book Binding activity alongwith VAT on stationery items (pencil, etc). As far I know VAT is chargeable only on sales of goods but Book Binding is not a sale of good. Whether he is right in charging VAT on Book Binding? Please advice