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.
21 January 2011
Ans. 1) they are supposed to quote both the numbers on invoice.
Ans.2) If the regular practice of that dealer is to show "qty rate = amount + packing,forwarding & postage etc... = total *2% CST" it is alright.
Ans.3) It largely depends on what accounting practices you follow. However it is advisable that you make two separate ledgers for packing,forwarding & Postage included in purchases and on which taxes charged and another ledger for the same expenses on which tax is not charged and treat that ledger as direct expenses and the other ledger you may take in purchases.
CAclubindia
