Urd purchase not declared in vat 100
This query is : Resolved
13 November 2011
namaste,
some of the URD PURCHASES has not been declared which is utilesed/sold by trader and collected vat on such sales at existing rates and same has been paid.
now it cannot be declred by revising the return since the revising return time limit is over,
now what happens to Undeclared URD PURCHASES ? Should he pay tax on such purchases ? or not required ? what the law says ? please let me know
thank you all,
some of the URD PURCHASES has not been declared which is utilesed/sold by trader and collected vat on such sales at existing rates and same has been paid.
now it cannot be declred by revising the return since the revising return time limit is over,
now what happens to Undeclared URD PURCHASES ? Should he pay tax on such purchases ? or not required ? what the law says ? please let me know
thank you all,
13 November 2011
under vat rules, it would be handled by Assessing officer, no tax is payable for unregistered purchase.
14 November 2011
Dear Mr Shet,
That you have not disclosed the purchases from un-registered dealers is an omission. However, if those goods have been "sold" (either in the same state or under CST) and tax has been paid, there is NO FURTHER tax liability. You will have to explain the A.O about the omission later when you are called for audit/assessment.
Tax on purchases is required to be paid under the VAT law ONLY if the goods are:
1. Sent out of the state by way of branch transfer, such that no tax is paid on the sale thereof in the same state;
2. Used or consumed in the manufacture of goods that are exempt from tax.
NOTE: VAT is a state-subject and each state has its own enactment. One needs to specify to which state VAT, his query relates to! Nobody does this...
That you have not disclosed the purchases from un-registered dealers is an omission. However, if those goods have been "sold" (either in the same state or under CST) and tax has been paid, there is NO FURTHER tax liability. You will have to explain the A.O about the omission later when you are called for audit/assessment.
Tax on purchases is required to be paid under the VAT law ONLY if the goods are:
1. Sent out of the state by way of branch transfer, such that no tax is paid on the sale thereof in the same state;
2. Used or consumed in the manufacture of goods that are exempt from tax.
NOTE: VAT is a state-subject and each state has its own enactment. One needs to specify to which state VAT, his query relates to! Nobody does this...
17 November 2011
but how to display it in kvat 100,
suppose
sales @ 5% Kvat (using URD PURCHASE) 25000
vat collected 1250
purchases @ kvat 5% 15000
vat paid in purchase 750
URD purchase used for sales 5000
in vat 100
point 6.3)tot t/o sales @ 5% _______
(here what to be written whether net of urd purchase and sales or sales using both RD and URD PURCHASE)
And 6.7)taxable t/o urd purchase_______
and assume that in in 9.8) we avail the rabate on vat of URD PURCHASE
thank you all
suppose
sales @ 5% Kvat (using URD PURCHASE) 25000
vat collected 1250
purchases @ kvat 5% 15000
vat paid in purchase 750
URD purchase used for sales 5000
in vat 100
point 6.3)tot t/o sales @ 5% _______
(here what to be written whether net of urd purchase and sales or sales using both RD and URD PURCHASE)
And 6.7)taxable t/o urd purchase_______
and assume that in in 9.8) we avail the rabate on vat of URD PURCHASE
thank you all
20 November 2011
but how to display it in kvat 100,
suppose
sales @ 5% Kvat (using URD PURCHASE) 25000
vat collected 1250
purchases @ kvat 5% 15000
vat paid in purchase 750
URD purchase used for sales 5000
in vat 100
point 6.3)tot t/o sales @ 5% _______
(here what to be written whether net of urd purchase and sales or sales using both RD and URD PURCHASE)
And 6.7)taxable t/o urd purchase_______
and assume that in in 9.8) we avail the rabate on vat of URD PURCHASE
thank you all
suppose
sales @ 5% Kvat (using URD PURCHASE) 25000
vat collected 1250
purchases @ kvat 5% 15000
vat paid in purchase 750
URD purchase used for sales 5000
in vat 100
point 6.3)tot t/o sales @ 5% _______
(here what to be written whether net of urd purchase and sales or sales using both RD and URD PURCHASE)
And 6.7)taxable t/o urd purchase_______
and assume that in in 9.8) we avail the rabate on vat of URD PURCHASE
thank you all
02 August 2025
https://docs.google.com/document/d/1WlKRE0GUfCh7J3aMjjNJ1VkU9_fu38VhbclZ2t8AlXg/edit?usp=sharing
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