payment of VAT
This query is : Resolved
09 January 2010
when I sell taxable good to my debtor and I am anable to recover niether money nor goods.my question is that should I have to pay VAT on such goods.
09 January 2010
no you dont need to pay VAT if your recovery of amount is zero and VAT is not payable even if goods are recovered also...further if you receive any payment in future for that goods you have to considered that payment inclusive of VAT and pay VAT on that amount.
A. Sankaranarayana
(Expert)
09 January 2010
Dear Sushil,
1. U didn't mention the State.
2. In our State of Karnataka, Once, the Goods delivered, we have to pay tax, even if u not recovered the payment or the Customer not returned the goods.
3. In the case of the product manufactured against the Customer's specification, we cannot claim exemption from the payment of tax, even if the customers return back the goods within 6 month time.
This is as per my experience and knowledge.
1. U didn't mention the State.
2. In our State of Karnataka, Once, the Goods delivered, we have to pay tax, even if u not recovered the payment or the Customer not returned the goods.
3. In the case of the product manufactured against the Customer's specification, we cannot claim exemption from the payment of tax, even if the customers return back the goods within 6 month time.
This is as per my experience and knowledge.
11 January 2010
sorry to A.sankaranarayana for not mentioning the state.
State is Maharashtra.
State is Maharashtra.
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