Vat rates
This query is : Resolved
Ravi Kant Shukla
(Querist)
24 June 2011
1.What rates will be levied on Ladies garments
2. if goods purchased from registered dealer on kaccha bill and sale goods to custormers, pay tax our end on pakka bill possible or not
kindly treated as urgent basis
1.What rates will be levied on Ladies garments
2. if goods purchased from registered dealer on kaccha bill and sale goods to custormers, pay tax our end on pakka bill possible or not
kindly treated as urgent basis
MJ Krishnamurthy
(Expert)
25 June 2011
Mr.RK Shukla,
The Ladies garments are taxable as any readymade garments in your state.
You may buy the garments from unregistered suppliers on kachha bills and sell them on pukka(regular tax invoices)bills.In some States, like Karnataka,when you buy any goods on kachha bills(i.e.unregistered dealers/persons) you have to collect the VAT on such purchases in the bills and pay it to the department of VAT in the next month return. Then when
those garments are sold you can deduct the tax already paid on their purchases out of the VAT payable in the returns.
MJK
The Ladies garments are taxable as any readymade garments in your state.
You may buy the garments from unregistered suppliers on kachha bills and sell them on pukka(regular tax invoices)bills.In some States, like Karnataka,when you buy any goods on kachha bills(i.e.unregistered dealers/persons) you have to collect the VAT on such purchases in the bills and pay it to the department of VAT in the next month return. Then when
those garments are sold you can deduct the tax already paid on their purchases out of the VAT payable in the returns.
MJK
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