On what amount vat must be calculated?
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 December 2013
Our firm is having a party to whom both service tax as well as Gujarat VAT is applicable. My query is on which amount VAT must be calculated? Amount after charging service tax or before service tax? Can anyone provide me with the actual provision related to it?
MJ Krishnamurthy
(Expert)
20 December 2013
This is a common matter to all vat laws.VAT is collected on the principal amount,after allowing trade discount,if any,including freight and packing,not insurance.See the definition of sale and sale price, in all Acts on VAT for reference....mjk
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