Ready mix concrete
This query is : Resolved
24 October 2013
Our supplier supply us ready mix concrete at construction site by charging excise duty and lumpsum amount of VAT
They issue us Retail Invoice
My question is should i need to pay VAT Under Gujarat Vat Laws???? and if yes at what Rate???
If i do not pay VAT what will be the consequences?????
They issue us Retail Invoice
My question is should i need to pay VAT Under Gujarat Vat Laws???? and if yes at what Rate???
If i do not pay VAT what will be the consequences?????
24 October 2013
if your supplier is registered with VAT, he will raise the invoice with VAT and you need to pay the amount inclusive of VAT
if you do not pay VAT amount and pay only material's price, your supplier may not supply you the goods.
if you do not pay VAT amount and pay only material's price, your supplier may not supply you the goods.
24 October 2013
for the rate of tax ask the supplier to justify charging vat on lumpsum basis
it may be possible that he may have opted for composition scheme
it may be possible that he may have opted for composition scheme
25 October 2013
ya sir they have opted composition scheme and charging 1% Vat
My question is now i am liable to pay vat or Not and if yes at what Rate under Gujarat Vat Law
My question is now i am liable to pay vat or Not and if yes at what Rate under Gujarat Vat Law
25 October 2013
VAT is indirect tax and collected from the consumer so you are liable to pay VAT
25 October 2013
ok sir thank you
and at what rate @ 5% (4+1) or 15 % (12.5+2.5)
and at what rate @ 5% (4+1) or 15 % (12.5+2.5)
25 October 2013
1% as it is charged by vendor
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