Vat on purchase of medical stock for running new shop.

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

09 August 2013 Hi,

I am having medical shop in mumbai with zero value stock I am planning to buy new stock from another medical shop worth Rs 15 lakh the another medical shop will closed soon so he sale his stock to me as he register with Sales tax dept. so he is having VAT tin no. but I dont have vat no. now my query is that to buy stock VAT liability is payable by whom??? another thing is that the shop which is going to closed they paid VAT every after 6 months...

Rupesh Jain

Rupesh Jain (Expert)
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09 August 2013 seller goods sell after charging VAT
ad vat paid by seller not by you.
but you are not regd under VAT then you cannot claim VAT inpur purchase.

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