Reverse charge
This query is : Resolved
19 December 2012
WHAT IS THE REVERSE CHARGE UNDER VAT?.
19 December 2012
As far as iam concerned., if any registered dealer has purchased any goods from the non registered dealer., then the dealer who has purchased the goods has to pay the vat on the goods which he had purchased from unregistered dealer...
19 December 2012
A dealer can claim VAT paid on purchases as set off in his returns on a routine basis. When the conditions of set of are not satisfied : such as 1) the products are not sold or put other use,2)when they are sent out of the stste by other than sale 3)some products are burnt or destroyed etc,the set off already claimed has to be reversed to the required extent..MJK
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