Clarification regarding vat
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 January 2015
My Client have manufacturing business of Ladies bags and they sell online to Myntra,snapdeal etc. For Eg MRP of bag is 399/- on that commission is for eg.Rs.140/- so that net amt is Rs.259. My query is VAT should be charged on net amt 259 or on MRP IN Invoice. Second query is what should be VAT Rate either 12.5% or 5%.
CA SONIYA AGARWAL
(Expert)
14 January 2015
vat to be charged on MRP rate should be choosen with regard to goods classification as per TIN certificate
Rupesh Jain
(Expert)
15 January 2015
vat chargeable on the value sell to customer.
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