Vat on foc

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

09 February 2012 Dear experts do I have to pay Vat/CST on the goods sold on FOC basis and payment are not to be received and what if a part of payment is received or if in next year payment is received.

Thanks

CA. Hari Kishan

CA. Hari Kishan (Expert)
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09 February 2012 There shall be no VAT on Foc goods,, if you are expecting that there shall be some price payable .. then shall suggest you to raise a invoice for the said amount and discharge the VAT..

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