Vat
This query is : Resolved
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
19 May 2014
What Cenvat u r asking? On import u have just paid the duties.
19 May 2014
And only VAT or CST can b claimed by u. N not the duties paid by u.
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.
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.
19 May 2014
Yes that duty will b included in ur goods value but u cant claim it as cenvat.
19 May 2014
sir could u please give me your cell no
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.
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.
19 May 2014
ya sure 8282803100
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
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- STCG....................................................
- TAN for Partnership
- Treatment of Pension ?annuity returns on PMVY
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Free lancer income
- LTCG for Assmt year 26-27
- Loan by Partnership Firm
- AY 26-27 ITR-4 FILING U/S 44-ADA
- Plot of land. Cost of Acquisition
- Soyabean hsn code and gst rate
- NON- SUBMISSION OF LLP FORM 3
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
