on mining activities
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 September 2010
Dear Sir/Madam,
I need clarification whether sales tax is applicable for mining and qarrying. Actually certain land is alloted for our company by govt to use sand and other natural resources. And the same was given by our company to thirdy party for some margin. whether sales tax gets attracted in the transaction from our company to third party for that margin
kindly Reply me ASAP. Its very urgent.
Thanks,
Sravani
I need clarification whether sales tax is applicable for mining and qarrying. Actually certain land is alloted for our company by govt to use sand and other natural resources. And the same was given by our company to thirdy party for some margin. whether sales tax gets attracted in the transaction from our company to third party for that margin
kindly Reply me ASAP. Its very urgent.
Thanks,
Sravani
CA Vijay Kumar Gupta
(Expert)
07 September 2010
Vat is applicable on the sale of goods procured after mining & qarrying.Right to use of mine is also taxable under most of the vat laws in India.
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