Vat

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T VEERANJANEYULU (Querist)

19 May 2014 We want sale a machine. that machine imported from other country.when we purchased that machine value 809167. Custom duty,educational cess, secondary educationcess applied at that time. Now we want to sale that machine in local(tamilanadu)wheather cenvat applicable or not. if applicable what are the rates applicable, how to accountin the books of accounts

Sandeep Dharar

Sandeep Dharar (Expert)

19 May 2014 What Cenvat u r asking? On import u have just paid the duties.

Sandeep Dharar

Sandeep Dharar (Expert)

19 May 2014 And only VAT or CST can b claimed by u. N not the duties paid by u.

Sandeep Dharar

Sandeep Dharar (Expert)

19 May 2014 U must have to sell the machine and have to pay VAT or CST on the machine but nothing can b adjusted by u at the time of payment of VAT.

T VEERANJANEYULU

T VEERANJANEYULU (Querist)

19 May 2014 I want to sell machine in local. vat applicable or custom duty we already paid will include in the sale value sir.

Sandeep Dharar

Sandeep Dharar (Expert)

19 May 2014 Yes that duty will b included in ur goods value but u cant claim it as cenvat.

T VEERANJANEYULU

T VEERANJANEYULU (Querist)

19 May 2014 sir could u please give me your cell no

Sandeep Dharar

Sandeep Dharar (Expert)

19 May 2014 For Ex.
goods value 100K
Duties 25K
further Exp 10K

Total value 135K
Output VAT 40K

Then 40K is ur VAT payable n u can't deduct 25K from it.

Sandeep Dharar

Sandeep Dharar (Expert)

19 May 2014 ya sure 8282803100

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