Indirect Tax
This query is : Resolved
27 May 2008
I received goods from other state . On them i paid VAT Rs.50000
I have to pay VAT in my State(Gujarat) Rs. 70000
What is my final VAT liability . . ?
I have to pay VAT in my State(Gujarat) Rs. 70000
What is my final VAT liability . . ?
27 May 2008
Hi sanket !
as per the facts given, u purchased goods from other state i.e CST and u sold the same in ur state gujrat. the tax paid by u on purchase of goods from other state is not elgible for set off. hence, ur VAT liability will be Rs. 70000/-
as per the facts given, u purchased goods from other state i.e CST and u sold the same in ur state gujrat. the tax paid by u on purchase of goods from other state is not elgible for set off. hence, ur VAT liability will be Rs. 70000/-
27 May 2008
interstate purchase tax is not elegible for set off so you pay full amount of vat on sales
23 July 2011
@ Thank you Nilesh & Hemant....
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
- CG Tax On residential property
- Post Office RD Interest
- Applicable TDS for Purchase of Flat from NRI
- Eway bill for machinery reparing
- Claiming exemption of perquisite for employee-owned car under New Tax Regime in ITR-2
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- Gift of mutual fund units to daughter
- Form 10BD Filling
- TDS ON CASH WITHDRAWALS...
- Reporting of STCG on Property in ITR
- Foreign inward in ITR
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
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
