charging of vat
This query is : Resolved
22 January 2011
SIR,
IN RAJASTHAN THERE IS KRISHI MANDI TAX WHICH IS CHARGED @1.6% OF SALE VALUE.
MY QUERY IS THAT WHETHER VAT WILL BE CHARGED ON AMOUNT (SALEVALUE+ KRISHI MANDI TAX)OR ON ONLY SALE VALUE (WITHOUT K.M.TAX)?
E.G.:-
PRICE 100.00
K.M.TAX 1.60
VAT@5% 5.00
TOTAL 106.60
OR
PRICE 100.00
K.M.TAX 1.60
VAT@5% 5.08
TOTAL 106.68
PLEASE TELL WHICH IS CORRECT. PLEASE ALSO GIVE REASON FOR YOUR ANSWER.
THANKING YOU IN ANTICIPATION
C.A. VINOD SONI
IN RAJASTHAN THERE IS KRISHI MANDI TAX WHICH IS CHARGED @1.6% OF SALE VALUE.
MY QUERY IS THAT WHETHER VAT WILL BE CHARGED ON AMOUNT (SALEVALUE+ KRISHI MANDI TAX)OR ON ONLY SALE VALUE (WITHOUT K.M.TAX)?
E.G.:-
PRICE 100.00
K.M.TAX 1.60
VAT@5% 5.00
TOTAL 106.60
OR
PRICE 100.00
K.M.TAX 1.60
VAT@5% 5.08
TOTAL 106.68
PLEASE TELL WHICH IS CORRECT. PLEASE ALSO GIVE REASON FOR YOUR ANSWER.
THANKING YOU IN ANTICIPATION
C.A. VINOD SONI
22 January 2011
VAT will not apply on krishi mandi tax.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- Capital gain from sale of house property
- Stamp Paper for partnership firm change new income tax 2025
- TDS on Purchase of Immovable Property by NRI from NRI
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Regarding TDS Applicability For Director Remuneration
- Annual return in Gst
- Value of property in capital gain
- TDS APPLICABILITY......
- Copyright software
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
