Vat to govt regulatory body
This query is : Resolved
02 May 2012
is vat applicable to Govt regulatory body on sale of obsolete fixed asset???
03 May 2012
Mr Parmar
When the Central Govt, State Govt or regulatory body,whether registered or not,have to collect VAT on their sale of taxable goods(scrap also) and deposit such collected tax to the govt. They also should file a return in such months...MJK
When the Central Govt, State Govt or regulatory body,whether registered or not,have to collect VAT on their sale of taxable goods(scrap also) and deposit such collected tax to the govt. They also should file a return in such months...MJK
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07 May 2012
but as it is they are not into the regular business of selling any scrap....
so why sould they collect tax??
so why sould they collect tax??
07 May 2012
Mr C parmar,
The govt bodies need not be,and they won't be also,in regular business of selling taxable goods like old machines,furniture,seized vechicles,gold,etc. This is a special provision made for govt,semigovt,PSUs(like Banks,transport corporations,finance corporations,insurance organisations etc.
MJK
The govt bodies need not be,and they won't be also,in regular business of selling taxable goods like old machines,furniture,seized vechicles,gold,etc. This is a special provision made for govt,semigovt,PSUs(like Banks,transport corporations,finance corporations,insurance organisations etc.
MJK
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08 May 2012
and sir one more thing
an entity has 2 units i.e. one is Sez unit and the other one in DTA zone so can the service tax cenvat credit of SEZ unit be setoff against the DTA unit???
the question is related to Service tax
an entity has 2 units i.e. one is Sez unit and the other one in DTA zone so can the service tax cenvat credit of SEZ unit be setoff against the DTA unit???
the question is related to Service tax
08 May 2012
Mr C parmar,
I am not familiar with ST and cenvat.Let other experts reply....MJK
I am not familiar with ST and cenvat.Let other experts reply....MJK
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09 May 2012
ok sir n thanks for the help
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