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Import sales

This query is : Resolved 
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(Querist)
22 February 2008 we have imported raw material and under ex bond we have sold to a party.. is local tax applicable on sales and wat is the accounting treatment?
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Dayal

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Dayal (Expert)
22 February 2008 Yes VAt will be applicaple on sales, as it is first point sale
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Srinivas Sharma KN

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Srinivas Sharma KN (Expert)
22 February 2008 There is no first point sale concept now, VAT is appliacable at all point of sale.
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CA Saurabh Maheshwari

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CA Saurabh Maheshwari (Expert)
22 February 2008 VAT WILL BE APPLICABLE AT ALL POINT OF SALE
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