Regarding % of vat
This query is : Resolved
Snehal Tayshete
(Querist)
21 September 2015
what is the condition for charging 12.5 % & 5 % Vat?means how to decide when 5 % and 12.5 ?I heard that ,when goods are purchased for use then 5 % and if we purchased for resale then 12.5%.Is it correct?
CA AnKiT BoHrA (AB)
(Expert)
21 September 2015
nopes..
it depends on the entry of that particular item in the vat schedule of that state
every item is given in the vat schedule.. so you had to decide after looking on the vat schedule
it depends on the entry of that particular item in the vat schedule of that state
every item is given in the vat schedule.. so you had to decide after looking on the vat schedule
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