Collection of vat in case of compounding scheme urgent pls
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 January 2012
Dear Sirs
We are contractors of panthal and Shamiyana in Mumbai for exhibitions. We compounded with the VAT authorities for payment of VAT in 4 quarters @1.5% of the turnover. Shall we collect VAT in our bills from client
We are contractors of panthal and Shamiyana in Mumbai for exhibitions. We compounded with the VAT authorities for payment of VAT in 4 quarters @1.5% of the turnover. Shall we collect VAT in our bills from client
MJ Krishnamurthy
(Expert)
15 January 2012
Mr Author,
Generally, a trader under a composition scheme is not permitted to collect the tax payable by him from his customers.
MJK
Generally, a trader under a composition scheme is not permitted to collect the tax payable by him from his customers.
MJK
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