vat enquiry
This query is : Resolved
MANISH KR. SHARMA
(Querist)
19 January 2010
Dear sir,
I want to ask yourgoodself about the taking of input of vat if we purchase goods from our local state(delhi) @ 12.5% and transferred the same goods to my branch at other state against form f than how much input we take in our account while filing the return or depositing the tax
I want to ask yourgoodself about the taking of input of vat if we purchase goods from our local state(delhi) @ 12.5% and transferred the same goods to my branch at other state against form f than how much input we take in our account while filing the return or depositing the tax
CA Vijay Kumar Gupta
(Expert)
21 January 2010
You have to reverse the tax credit @2% of the amount of goods trfd. agst F form out of godds purchased from Delhi.
MANISH KR. SHARMA
(Querist)
22 January 2010
Very thanks for your reply
but sir i find in the vat reconner about the reversal of 8.5% of value of goods wich is t/f aginst form f hence we have allow to get only 4% credit in case of 12.5% items and no credit is allowed in case of 4% items please look into this matter and pleae clerify the same and oblige Thanks
but sir i find in the vat reconner about the reversal of 8.5% of value of goods wich is t/f aginst form f hence we have allow to get only 4% credit in case of 12.5% items and no credit is allowed in case of 4% items please look into this matter and pleae clerify the same and oblige Thanks
CA Vijay Kumar Gupta
(Expert)
23 January 2010
Pl. check the latest edition.
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