Fabrication & Iron Works GVAT rates
This query is : Resolved
14 August 2009
Dear Sirs,
Pls tell me the rate of GVAT on Fabrication & Iron Works Factory
How much they can collect from TAX invoice ? is it 12.5% or 4% VAT.
and tell me also that does they can give retail invoice with VAT i.e Do they Collect VAT from Retails invoice ?
Pls reply me urgently
Thanks for reply in advance
Pls tell me the rate of GVAT on Fabrication & Iron Works Factory
How much they can collect from TAX invoice ? is it 12.5% or 4% VAT.
and tell me also that does they can give retail invoice with VAT i.e Do they Collect VAT from Retails invoice ?
Pls reply me urgently
Thanks for reply in advance
15 August 2009
Since iron falls in entry no 43 of GVAT schedule, hence rate of tax is 4%, VAT cann't be collected on retail invoice.
15 August 2009
Thanks Arun
will you Pls give me the Guidence about what kind of records they have to maintain for GVAT after Registration under GVAT ?
and also they are paying 12.5% of VAT on Purchase of raw material, So will they can take credit of 12.5 % of VAT in VAT Calculation ?
Waiting for reply
Thanks once again
will you Pls give me the Guidence about what kind of records they have to maintain for GVAT after Registration under GVAT ?
and also they are paying 12.5% of VAT on Purchase of raw material, So will they can take credit of 12.5 % of VAT in VAT Calculation ?
Waiting for reply
Thanks once again
15 August 2009
Thanks Arun
will you Pls give me the Guidence about what kind of records they have to maintain for GVAT after Registration under GVAT ?
and also they are paying 12.5% of VAT on Purchase of raw material, So will they can take credit of 12.5 % of VAT in VAT Calculation ?
Waiting for reply
Thanks once again
will you Pls give me the Guidence about what kind of records they have to maintain for GVAT after Registration under GVAT ?
and also they are paying 12.5% of VAT on Purchase of raw material, So will they can take credit of 12.5 % of VAT in VAT Calculation ?
Waiting for reply
Thanks once again
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