Vat on supply to sez
This query is : Resolved
17 December 2011
we have to supply to a party in sez, whereas the billing has to be done a company overseas.
How do we raise invoices as no-one is ready to pay the vat as it is deemed export when supplied to sez and secondly the payment is from overseas.
How do we raise invoices as no-one is ready to pay the vat as it is deemed export when supplied to sez and secondly the payment is from overseas.
17 December 2011
Mr Navneet Kakkar,
An sez is exempt from pating tax(vat)in many states.find out in your state. Although you raise an invoice on an overseas company it will not become a deemed sale the goods will not the frontiers of our country. However,you can raise an invoice without levying vat,quoting the sez licence no.of that party and claim exemption on such sales in your return....MJK
An sez is exempt from pating tax(vat)in many states.find out in your state. Although you raise an invoice on an overseas company it will not become a deemed sale the goods will not the frontiers of our country. However,you can raise an invoice without levying vat,quoting the sez licence no.of that party and claim exemption on such sales in your return....MJK
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