vat return
This query is : Resolved
18 April 2011
dear sir,
in our depot (suppplico) All the purchases during the month is treated to be sale in that month and output tax is paid on whatever we purchase.
But actually there are lot of closing stock held in our depot in each month.
is this method of vat assessment is correct?
in our depot (suppplico) All the purchases during the month is treated to be sale in that month and output tax is paid on whatever we purchase.
But actually there are lot of closing stock held in our depot in each month.
is this method of vat assessment is correct?
18 April 2011
This method of VAT assessment is not correct.VAT is an indirect tax not a direct tax means we have to collect from purchasers and have to remit it to government.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- STCG....................................................
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- TAN for Partnership
- Treatment of Pension ?annuity returns on PMVY
- Sales return eway bill
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- STCG FOR GOLD ETFs
- Last year TDS Claim
- Loan by Partnership Firm
- AY 26-27 ITR-4 FILING U/S 44-ADA
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
