How to save vat
This query is : Resolved
31 May 2018
Hi
If I make a deal with a person whose value is
USD9995 and make a invoice with USD 9995 after deal client send USD9955 in my current account I receive USD 40 less
How I can save the VAT on 40 ?
With regards
If I make a deal with a person whose value is
USD9995 and make a invoice with USD 9995 after deal client send USD9955 in my current account I receive USD 40 less
How I can save the VAT on 40 ?
With regards
Nikhil Kaushik
(Expert)
01 June 2018
1. VAT is no more applicable!
2. The difference is most probably bank charges. so your revenue remains 9995. The difference is the expense. The bank charges you GST, you can claim input credit of the same.
2. The difference is most probably bank charges. so your revenue remains 9995. The difference is the expense. The bank charges you GST, you can claim input credit of the same.
02 June 2018
Hi Nikhil,
If i want to show this difference as discount because. My Bank did not show this as bank charge .So I can never take input tax credit .
Thanks
If i want to show this difference as discount because. My Bank did not show this as bank charge .So I can never take input tax credit .
Thanks
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
