Vat on readymade garments
This query is : Resolved
Mohan Verma
(Querist)
14 August 2011
One of my client is a Readymade Garments dealer
As per recent Delhi notifications, if the readymade garments are below 5000 will attract 5% vat and above 5000 will attract 12.5% vat.
Here the confussion is whether it is on Sale price or on MRP value ?
Please help
As per recent Delhi notifications, if the readymade garments are below 5000 will attract 5% vat and above 5000 will attract 12.5% vat.
Here the confussion is whether it is on Sale price or on MRP value ?
Please help
MJ Krishnamurthy
(Expert)
15 August 2011
Mr.Mohan Verma,
What amount you receive during the sales is important and not the price marked on the garments.In your invoices whenever you are charging less than Rs5000/-you can collect 5% DVAT and 12.5% for the garments above that price. Your invoice is the proof for the tax authorities.
MJK
What amount you receive during the sales is important and not the price marked on the garments.In your invoices whenever you are charging less than Rs5000/-you can collect 5% DVAT and 12.5% for the garments above that price. Your invoice is the proof for the tax authorities.
MJK
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