Tax related
This query is : Resolved
27 November 2016
dear sir suppose i has purchase diamond Rs 500000 from A. Ltd and the same is sold b.LTD(main company) Rs 500000 to c.Ltd and i has received cheque of Rs 500000 from c.Ltd this chaque give to A.Ltd.whether in this case Rs 500000 considered in turnover in the hands of B.LTD or give answere what is accounting entry in books of B.LTD.
CA. Vinodh Kothari
(Expert)
28 November 2016
Yes 500000 is treated as turnover in books of B Ltd.
28 November 2016
but sir cheque received from c LTD direct given to purchase from A.LTD
in this case it is considered tunover in the books of B.LTD
in this case it is considered tunover in the books of B.LTD
CA. Vinodh Kothari
(Expert)
28 November 2016
If sale bill is made by B Ltd to C Ltd and A Ltd to B Ltd then turnover will be 500000 in books of B Ltd. If A ltd bills C Ltd then only 500000 will not be part of B Ltd turnover. How is it in your case.
29 November 2016
dear sir only one question vat annual return can be filed 31st december 2016 if any panalty lavied. whether it is correct.give me one replay.
CA. Vinodh Kothari
(Expert)
29 November 2016
For which state you are asking. If it is for Tamilnadu Penalty for delay filing for VAT Audit Report in Form WW is Rs.10000/- for other states you need to ask vat consultant of that state.
VK
VK
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