MVAT Audit of petrol pump
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 January 2010
Dear Sir,
a. while doing audit of petrol pump should i account for vat paid on petrol purchases separately?
b. Is it necessary to disallow the vat on purchases of petrol under rule 54?
c. Please suggest the best approach for the same.
a. while doing audit of petrol pump should i account for vat paid on petrol purchases separately?
b. Is it necessary to disallow the vat on purchases of petrol under rule 54?
c. Please suggest the best approach for the same.
CA Deepak P. Agrawal
(Expert)
20 January 2010
Petrol deisel etc are goods excluded from vat. So no tax is to be collected seprately on sales. Also no set off is available on purchases. Hence you should account your purchaes inclusive of VAT.
Regards
Regards
Message likes :
1 times
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
- Accounting treatment of AMC alongwith the purchase of Laptop
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Taxation of crypto futures in India Fy 2026- 2027
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Transfer of Physical Stock Between Two Proprietorship Concerns
- Issuing of delivery challan by seller of goods
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- EPF ECR NEW RULES Sep 17th 2026
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- 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
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
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
