vat
This query is : Resolved
22 September 2009
mr.A,a dealer with annual gross turnover of Rs.2,00,000.He has not opted for composition scheme.he is not a registered dealer too.
mr.A deals in purchase & sale of goods.
will he be allowed to set off his input tax against output tax?
can he further transfer input tax credit to any further registered dealer,who purchases good from him?
mr.A deals in purchase & sale of goods.
will he be allowed to set off his input tax against output tax?
can he further transfer input tax credit to any further registered dealer,who purchases good from him?
23 September 2009
Mr. A is not a registered Dealer so question of VAT Input claim does not arise.
Neither he can transfer input tax to any further registered dealer.
Neither he can transfer input tax to any further registered dealer.
23 September 2009
but as per the provisions of White paper,a dealer is compulsorily required to be registered if his annual gross turnover is ABOVE Rs.5lacs & not below this amount?
24 September 2009
No Input credit allowed to him or allowed to be passed on by him for claim by any other person
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