vat applicability
This query is : Resolved
07 November 2007
could the vat be charged on the freight mentioed in the purches bill.
the purchase order was given freight exclusive.
the purchase order was given freight exclusive.
ASHISH YADAV
(Expert)
08 November 2007
Dear Vanket
The frieght charges should not be included for Vat.
Vat will be computed only for goods invoiced. i invoice u have to mention
Goods ---amount
Add:- Vat
The frieght paid on this will go to the frieght outward cost in ur Books.This is ur indirect cost.
The frieght charges should not be included for Vat.
Vat will be computed only for goods invoiced. i invoice u have to mention
Goods ---amount
Add:- Vat
The frieght paid on this will go to the frieght outward cost in ur Books.This is ur indirect cost.
Ravi Shankar
(Expert)
08 November 2007
Mr. Venkat,
If the freight is charged separately to the purchaser in the bill, VAT can NOT be charged by the supplier on the freight portion.
However, if freight forms part of the selling price and is not mentioned separately in the invoice, VAT ought to be charged on the entire amount (without splitting for goods and freight portions).
If the freight is charged separately to the purchaser in the bill, VAT can NOT be charged by the supplier on the freight portion.
However, if freight forms part of the selling price and is not mentioned separately in the invoice, VAT ought to be charged on the entire amount (without splitting for goods and freight portions).
CA. Raviprakash M.S
(Expert)
08 November 2007
Ravi Shankars view is correct.
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