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This query is : Resolved
26 November 2011
Dear frnds one Query is raised plz provide immediate solution:
VAT RATE 12.5% at time when invoice was issued for Rs 1000 on 10/5/2011. VAT RATE changed to 10% on 10/6/2011.There was price revision due to which supplementary invoice was issued of Rs 150 on 12/6/2011 in addition to original Invoice. Now what rate of VAT should be charged on this new supplementary invoice???
VAT RATE 12.5% at time when invoice was issued for Rs 1000 on 10/5/2011. VAT RATE changed to 10% on 10/6/2011.There was price revision due to which supplementary invoice was issued of Rs 150 on 12/6/2011 in addition to original Invoice. Now what rate of VAT should be charged on this new supplementary invoice???
26 November 2011
I believe prevelling Tax rate at the time of sale must be applied.however, must see what says the appropriate state act.
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