Vat implication
This query is : Resolved
chetna bharuka
(Querist)
12 August 2014
sir assessee has kirana shop and now he wants to close it forever.. the stock in shop like soap, toothpaste etc. is used in their owm house. so they r not going to sell it. so no need to pay vat on stock na???? pls guide me w.r.t. vat implications..
CA UMESH DULAL
(Expert)
13 August 2014
Input vat claimed as regard to such stock should be reversed.
CA UMESH DULAL
(Expert)
13 August 2014
Input vat claimed as regard to such stock should be reversed.
CA UMESH DULAL
(Expert)
13 August 2014
In other word, you have to pay the input vat amount of such stock if you have claimed earlier.
CA UMESH DULAL
(Expert)
13 August 2014
In other word, you have to pay the input vat amount of such stock if you have claimed earlier.
Rupesh Jain
(Expert)
13 August 2014
if you cliam the input on purchase then he have to pay the output tax. otherwise not required.
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