Fabrication & Iron Works GVAT rates
This query is : Resolved
Murtaza I Bhagat
(Querist)
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
Vishnu Saboo
(Expert)
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.
Murtaza I Bhagat
(Querist)
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
Murtaza I Bhagat
(Querist)
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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