Tax treatment of urd period under mvat
This query is : Resolved
25 November 2011
Sir,
If I cross sales limit rs.500000/- in april.
but I am registered in Dec.
in between period I made sales rs.10lac.
plz tell me the tax treatment of URD period under MVAT act.
Thank You
If I cross sales limit rs.500000/- in april.
but I am registered in Dec.
in between period I made sales rs.10lac.
plz tell me the tax treatment of URD period under MVAT act.
Thank You
25 November 2011
Mr. Pradeep,
The rule is you should cross the limit of Rs10 lakhs in a financial year to attract tax under MVAT Act 2002.If the turnover is less than Rs10 lakhs in the Dec-Mar period that part business is exempt.Starting from 1st April to this day see how much sales you have done. As it appears you are likely to cross the limit by Mar end of 2012. Therefore for this financial year you pay VAT as per rules.
MJK
The rule is you should cross the limit of Rs10 lakhs in a financial year to attract tax under MVAT Act 2002.If the turnover is less than Rs10 lakhs in the Dec-Mar period that part business is exempt.Starting from 1st April to this day see how much sales you have done. As it appears you are likely to cross the limit by Mar end of 2012. Therefore for this financial year you pay VAT as per rules.
MJK
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
Similar Resolved Queries
Unanswered Queries
- ITR -1 Filing
- Section 54 f disallowed will be taxed at what rate
- TWO FIRM NAME IN ONE GST NUMBER
- Transportation of Petrol, Diesel by GTA and Other than GTA
- Eway issued more than one
- Trust 10AB form required for old asst. years?
- TDS whether applicable or not in case of Flat purchase
- IGST Refund pending since June 2022.
- Transfer of rectification rights to ao
- Transfer of Rectification Rights to the Jurisdictional Assessing Officer
- CHANGE IN PARTICULARS OF DIRECTOR
- Procedure and Documents Required for Release of FD from DVAT
- How to rectify gstr1 credit note
- Non- payment of GST on supply of services- reg
- Other party gstin shown on my login id
- Accumulated surplus exceeding 15%
- Different GST Number MEESHO
- Query on TDS Section 194H
- Fees amount transfer procedure for two doctors
- Notice u/s 148 of IT Act
Trending Online Classes
CAclubindia
