depb

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

25 June 2011 suppose we have purchased depb scrip at erode,tamil nadu from a broker in west bengal, and he has got an office at chennai also. the party has sent the scrip through a courier from chennai office and he is raising a debit note from west bengal and he is not claiming either vat or cst since he is of the opinion that vat is exempted in west bengal vat act,2003 as the depb scrip has been specifically exempted in the schedule(entry 11A).Now whether the opinion of the party is correct.i just want to clarify that movement of the scrip has taken place within tamil nadu,then why he is not claiming vat 4% since depb scrip is not exempted in tamil nadu vat act. secondly, in case if the party has sent the courier from west bengal office itself, then whether cst 2% is applicable for depb scrip or cst is also exempted if it is sold from west bengal itself.

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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26 June 2011 DEPB attracts separate Tax

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