A Hotel is Having restaurant and Bar and selling both the items on a normal course of Business.
The company is registered under Maharashtra VAT and GST.
Can you let me know the limit and criteria for VAT Audit for FY 2019-20 in Maharashtra?
One of my client has doing business of printing & designing like brouchers,visiting cards,flex printings,banners etc,They raised bill and collect vat from customers,they claimed inputs on purchases like papers,sheets which is useful to generate output products, Recently VAT assessment is going on, they said it is works contracts not eligible to claim ITC,Please provide whether is work contract or manufacture ,client did not get any inputs from clients to meet job work criteria.
VAT department said pay inputs which were claimed earlier,please give suggestions ,refer case law any as earliest.
If the capital goods goods VAT credit ( 100% )in June 17 - Both for left out for the FY 2016-17 and for purchases made up to June 17 taken in June 17 VAT return was right ?
One view that , VAT credit is to be taken only 50% and the balance to be taken from TRANS1 . If this is correct, what department will do for 100% VAT credit taken?
Whether the department asked to pay interest for 50% credit taken amount from the date of filign VAT return till the date filing TRASN 1? since balance VAT credit is also eligible ?
or the department will ask to pay 50% VAT credit along with interest ? If so assessee has no option to take VAT credit now as the time limit for filing GST Trans 1 already crossed.
I request expert opinion on this subject.
Received Notice from VAT Enforcement Division Rajkot to declare dealings with a list of dealers. I am a registered dealer in Bhuj.
Had purchases in 2014 from one party and declared in reply. Now the are saying that this party has been declared as bogus and asks us to pay Tax+Interest+150% Penalty Voluntarily. If they issue notice passing assessment order Penalty would be 300%.
I have the following Queries
1. Whether they have jurisdiction to demand tax or tax can only be demanded from Bhuj VAT Department.
2. Whether the penalty of 150% & 300% as said by them are correct.
3. Whether they can demand tax for the year 2014 now.
Kindly guide with your opinion.