Is He Liable For Set-off/refund etc.
This query is : Resolved
07 April 2010
I am doing a job work on behalf of relaince
i.e packing & processing of milk
for which I require chemical, material & plants
I am registered dealer under MVAT
can I cliam set off on above purchase of fixed assets & other consumable materials.
And I also want to know that should I levy vat on packing job done by me???????
i.e packing & processing of milk
for which I require chemical, material & plants
I am registered dealer under MVAT
can I cliam set off on above purchase of fixed assets & other consumable materials.
And I also want to know that should I levy vat on packing job done by me???????
14 April 2010
Dear Sir,
As per ur explanation u are rising Job Work bill. But if Packing Material,Chemical ,etc are purchased by u and transfered to the Party. Than its Works Contract. On which VAT will be leviable. VAT can be levied at actual, percentage or composition method as per rule 58 and section 42. Please update on the this and see whether u are doing job work or works contract? Otherwise for dealer who is principal Job Worker no setoff is available as rule 54(d)of MVAT Rules 2005.
As per ur explanation u are rising Job Work bill. But if Packing Material,Chemical ,etc are purchased by u and transfered to the Party. Than its Works Contract. On which VAT will be leviable. VAT can be levied at actual, percentage or composition method as per rule 58 and section 42. Please update on the this and see whether u are doing job work or works contract? Otherwise for dealer who is principal Job Worker no setoff is available as rule 54(d)of MVAT Rules 2005.
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
- TDS 194-T applicability
- GST ITC REVERSE
- Fixe term employment
- Is any professional CA is here please reply
- TDS on TRUST
- Consolidated financials
- Putting a heading on received mail
- Withdrawal in cash from partners capital account by partner
- TDS on Complimentary "Desi Ghee and Gold Coin" Provided to KBC Contestants
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
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
