Tnvat - sales of software - taxable value
This query is : Resolved
04 September 2014
Sir, I need your inputs on
How determine Taxable Value for VAT applicability on software sales. Whether VAT need to be calculated on Basic Value + Service Tax or only on Basic.
For example:
Case 1 – Basic Software value – Rs.1,000/-
ST @ 12.36% - Rs. 124/-
VAT @ 5% - Rs. 50/-
Total Invoice - - Rs.1174/-
Or
Case 2 Basic Software Value – Rs.1,000/-
ST @12.36% Rs.124/-
Gross Total Rs.1124/-
VAT @ 5% on GT Rs.56/-
Total Invoice Value - Rs.1180/-
Please refer both the case and please suggest, which one need to consider (Please help me with TNVAT Act reference)
How determine Taxable Value for VAT applicability on software sales. Whether VAT need to be calculated on Basic Value + Service Tax or only on Basic.
For example:
Case 1 – Basic Software value – Rs.1,000/-
ST @ 12.36% - Rs. 124/-
VAT @ 5% - Rs. 50/-
Total Invoice - - Rs.1174/-
Or
Case 2 Basic Software Value – Rs.1,000/-
ST @12.36% Rs.124/-
Gross Total Rs.1124/-
VAT @ 5% on GT Rs.56/-
Total Invoice Value - Rs.1180/-
Please refer both the case and please suggest, which one need to consider (Please help me with TNVAT Act reference)
04 September 2014
Sir
your case1 is correct because you should basic assessable valu Rs 1000/- calculate Tn Vat rate 5% of Rs 50 after add service tax
your case1 is correct because you should basic assessable valu Rs 1000/- calculate Tn Vat rate 5% of Rs 50 after add service tax
05 September 2014
Dear Mr.Muthu,
Thank you for your inputs..
Can you provide related TNVAT Act provision on the same.
Thank you for your inputs..
Can you provide related TNVAT Act provision on the same.
02 August 2025
https://docs.google.com/document/d/1TFwwLLmnFOlpEM55pQH8VOkscshnWQBeEVdvdKWRDpI/edit?usp=sharing
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