constrction company invoice
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 January 2011
I am construction company prop. and also doing some contract works. I have VAT TIN and also CST NO. for Purchase of Utensils from Mumbai/Banglore...
My que. is that
1) I have purchase Utensils on C form Purchase, they give invoices to us on my Local VAT TIN No. Do it is right to quote VAT No. instead of CST No. in invoice ?
2) They have shown qty rate = amount + packing,forwarding & postage etc... = total *2% CST do it is right ?
3)Now Do I have to Count Purchase including packing,forwarding & Postage etc. or shown these exp. seprately as direct expense ?
4)In my EVAT Return Do I have to shown full amount of Purchase as Que. no. 3 ?
5)Now I have to Issue Sales Invoice of CST Purchase in Gujarat. So Kindly Know me the rate of Utensils in gujarat.
6)last I have tax invoice of spares and lubricunt which is used in construction and in our vehicle which are used for constrution or any transportion purpose, Do we can take setoff/credit of those purchases ?
thank you very much in advance
pls don't leave my que. alone
any suggesstion and help will be defenitely inspire me for helping hands.
My que. is that
1) I have purchase Utensils on C form Purchase, they give invoices to us on my Local VAT TIN No. Do it is right to quote VAT No. instead of CST No. in invoice ?
2) They have shown qty rate = amount + packing,forwarding & postage etc... = total *2% CST do it is right ?
3)Now Do I have to Count Purchase including packing,forwarding & Postage etc. or shown these exp. seprately as direct expense ?
4)In my EVAT Return Do I have to shown full amount of Purchase as Que. no. 3 ?
5)Now I have to Issue Sales Invoice of CST Purchase in Gujarat. So Kindly Know me the rate of Utensils in gujarat.
6)last I have tax invoice of spares and lubricunt which is used in construction and in our vehicle which are used for constrution or any transportion purpose, Do we can take setoff/credit of those purchases ?
thank you very much in advance
pls don't leave my que. alone
any suggesstion and help will be defenitely inspire me for helping hands.
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 January 2011
pls reply my query
20 July 2024
It looks like you have several questions related to VAT, CST, invoicing, and tax implications for your construction company. Let's address each question one by one:
1. **Quoting VAT vs. CST in Invoice:**
- When purchasing goods against a C Form (which is used for interstate purchases at a lower CST rate), the seller should ideally issue the invoice against your VAT TIN (Taxpayer Identification Number) and mention the CST details separately. This is because the C Form is intended for interstate transactions at concessional rates of CST, but the invoice should reflect local VAT details.
2. **Invoice Details:**
- The invoice should show the quantity, rate, total amount, and separately show items like packing, forwarding, postage, etc., which are additional charges. These charges are included in the total amount on which CST is calculated. The 2% CST mentioned seems to be the concessional rate applicable under the C Form.
3. **Treatment of Packing, Forwarding, Postage, etc.:**
- Packing, forwarding, and similar charges should typically be included in the cost of purchase. These are not direct expenses but part of the cost of goods purchased. So, you should include these costs in the total amount on which CST is calculated.
4. **Reporting in EVAT Return:**
- Yes, in your EVAT (Electronic VAT) Return, you should report the full amount of purchase including packing, forwarding, postage, etc. These details help in correctly calculating the input tax credit.
5. **Sales Invoice in Gujarat:**
- For issuing sales invoices in Gujarat, you need to charge VAT as per the rates applicable in Gujarat. The rate of VAT on utensils in Gujarat may vary depending on the specific category of utensils. You should refer to the Gujarat VAT schedule or consult with a local tax advisor to determine the correct rate.
6. **Tax Invoice for Spares and Lubricants:**
- For spares and lubricants used in construction or transportation related to construction activities, you can generally claim input tax credit (setoff) for the VAT paid on these purchases. Ensure that the invoices you receive for these items clearly mention the VAT details.
### Important Considerations:
- Always ensure that invoices received and issued are compliant with VAT and CST regulations.
- Keep proper records of all purchases, including supporting documents like invoices, C Forms, etc.
- Consult with a tax advisor or accountant familiar with VAT and CST laws in your state to ensure compliance and maximize tax benefits.
If you have further specific questions or need clarification on any point, feel free to ask!
1. **Quoting VAT vs. CST in Invoice:**
- When purchasing goods against a C Form (which is used for interstate purchases at a lower CST rate), the seller should ideally issue the invoice against your VAT TIN (Taxpayer Identification Number) and mention the CST details separately. This is because the C Form is intended for interstate transactions at concessional rates of CST, but the invoice should reflect local VAT details.
2. **Invoice Details:**
- The invoice should show the quantity, rate, total amount, and separately show items like packing, forwarding, postage, etc., which are additional charges. These charges are included in the total amount on which CST is calculated. The 2% CST mentioned seems to be the concessional rate applicable under the C Form.
3. **Treatment of Packing, Forwarding, Postage, etc.:**
- Packing, forwarding, and similar charges should typically be included in the cost of purchase. These are not direct expenses but part of the cost of goods purchased. So, you should include these costs in the total amount on which CST is calculated.
4. **Reporting in EVAT Return:**
- Yes, in your EVAT (Electronic VAT) Return, you should report the full amount of purchase including packing, forwarding, postage, etc. These details help in correctly calculating the input tax credit.
5. **Sales Invoice in Gujarat:**
- For issuing sales invoices in Gujarat, you need to charge VAT as per the rates applicable in Gujarat. The rate of VAT on utensils in Gujarat may vary depending on the specific category of utensils. You should refer to the Gujarat VAT schedule or consult with a local tax advisor to determine the correct rate.
6. **Tax Invoice for Spares and Lubricants:**
- For spares and lubricants used in construction or transportation related to construction activities, you can generally claim input tax credit (setoff) for the VAT paid on these purchases. Ensure that the invoices you receive for these items clearly mention the VAT details.
### Important Considerations:
- Always ensure that invoices received and issued are compliant with VAT and CST regulations.
- Keep proper records of all purchases, including supporting documents like invoices, C Forms, etc.
- Consult with a tax advisor or accountant familiar with VAT and CST laws in your state to ensure compliance and maximize tax benefits.
If you have further specific questions or need clarification on any point, feel free to ask!
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