Replyyyyyyyyyyyyyyyyyyy
This query is : Resolved
Guest
Guest
(Querist)
16 January 2012
Good Morning Experts,
can u tell me this that if we sale some scrape( b grade lamp) than sir when i raised the bill to party than willl i add vat or deducted tcs . plz clear. sir
can u tell me this that if we sale some scrape( b grade lamp) than sir when i raised the bill to party than willl i add vat or deducted tcs . plz clear. sir
16 January 2012
VAT is applicable on Sale of scrap. Further TCS has to be recovered on the total amount including VAT.
Eg.
Sale Price 1000
Add: VAT @ 13.5% 135
Add: TCS @ 1% (1%*1135) 11.35
TOTAL 1146.35
So total amount to be recovered from buyer is Rs. 1,146.35/-
Eg.
Sale Price 1000
Add: VAT @ 13.5% 135
Add: TCS @ 1% (1%*1135) 11.35
TOTAL 1146.35
So total amount to be recovered from buyer is Rs. 1,146.35/-
16 January 2012
Vat is applicable on sale of Scrap at rate applicable in your state. then you wil get the gross amount. in that gross amount you will add TCS @ 1% and total will be recovered from buyer.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Unanswered Queries
- Post Office RD Interest
- Reporting Income under Section 44ADA
- Itr 1 processing
- Building and other construction workers welfare cess act 1996
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- ITR validation error - Balance sheet is not filled
- ITR 1: Details for showing Exempt Income
- Bank Accounts in Balance Sheet for ITR 3
- TDS ON CASH WITHDRAWALS...
- Eway bill for machinery reparing
- Lift replacement entries in housing society
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
