Sale tax
This query is : Resolved
17 February 2012
dear expert,
WE A PRTNERSHIP FIRM WOULD LIKE TO BUY PRODUCTS FROM A COMPANY ( ANOTHER STATE) AND APPOINT DEALER FOR SUPPLAYING THE SAME. NOW MY QUESTION IS WHEN I BUY THE PRODUCT WE WILL BE PAYING A TAX AT THE RATE OF 2 % AGAINST 'C' FORM, ELSE VAT APPLICABLE AT SELLERS STATE. BUT WHEN I SUPPLY THIS TO THE DEALER AM I SUPPOSE TO CHARGE THEM THE SAME TAX? AND SUBSEQUENTLY THE DEALER CHARGE THE RETAILER ?
THANKS
KIRAN
WE A PRTNERSHIP FIRM WOULD LIKE TO BUY PRODUCTS FROM A COMPANY ( ANOTHER STATE) AND APPOINT DEALER FOR SUPPLAYING THE SAME. NOW MY QUESTION IS WHEN I BUY THE PRODUCT WE WILL BE PAYING A TAX AT THE RATE OF 2 % AGAINST 'C' FORM, ELSE VAT APPLICABLE AT SELLERS STATE. BUT WHEN I SUPPLY THIS TO THE DEALER AM I SUPPOSE TO CHARGE THEM THE SAME TAX? AND SUBSEQUENTLY THE DEALER CHARGE THE RETAILER ?
THANKS
KIRAN
CA. Hari Kishan
(Expert)
17 February 2012
After you have made the purchase, you shall require to charge the tax based on the nature of sale you make.. eg: Local sales made within the state then rate of tax applicable on such goods in the local state, if interstate sales against C form then tax @ 2% , for interstate sales without c form then again the local rate of tax..
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