VAT EXEMPTION
This query is : Resolved
Jayant Tathe
(Querist)
28 April 2008
What is the Rule of "Vat Exempted Vide Schedule A, Serial No. 45 "
Suppose A purchase material from X party of Rs, 20,000 Vat Rate Nil under above rule .
Than
If Mr. A is sale the above material @ Rs. 22000 than what amount Mr. A will charge VAT in his Sales Invoice . or wheather he is also charge Nil Vate Rate .
Suppose A purchase material from X party of Rs, 20,000 Vat Rate Nil under above rule .
Than
If Mr. A is sale the above material @ Rs. 22000 than what amount Mr. A will charge VAT in his Sales Invoice . or wheather he is also charge Nil Vate Rate .
CA Hemant T Dewani
(Expert)
28 April 2008
if your goods are under schedule A then there is no vat tax liability your purchases are nil tax liability then sales are also nil tax liability that is tax free goods
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