vat
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 April 2010
Is it necessary to charge vat @ 5% on closing stock of 31-3-10 which is sold on or after 1-4-10
K Bala Kishan
(Expert)
02 April 2010
Please check the VAT amendment date as per the state notification.
If the amendment is wef 01-04-2010 and your purchase order is on 30-03-2010 then the old rate will be applicable and if the PO date is later than or on 01-04-2010 then new rate will be applicable. This is applicable for the sales too.
Hope it is clear for you. If any clarifications, plz let us know.
If the amendment is wef 01-04-2010 and your purchase order is on 30-03-2010 then the old rate will be applicable and if the PO date is later than or on 01-04-2010 then new rate will be applicable. This is applicable for the sales too.
Hope it is clear for you. If any clarifications, plz let us know.
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