Vat on free gifts attached to a product
This query is : Resolved
10 December 2012
Dear All,
Whether Maharashtra vat is applicable on free gifts attached to a product. For Eg: if there is a sale of car and on which a laptop is provided free of cost whether vat would be applicable on free gift of laptop. If yes then at what value? What if the rate is different for original product and gifted commodity? Anticipating a quick reply and thanking you in advance
Whether Maharashtra vat is applicable on free gifts attached to a product. For Eg: if there is a sale of car and on which a laptop is provided free of cost whether vat would be applicable on free gift of laptop. If yes then at what value? What if the rate is different for original product and gifted commodity? Anticipating a quick reply and thanking you in advance
CA. Hari Kishan
(Expert)
10 December 2012
VAT is levied on sale price ,, when the goods are gifted away the sale price is ZERO.. hence no VAT is payable.
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