Very urgent
This query is : Resolved
manish sharma
(Querist)
16 October 2011
Dear Members.
My client business is milk (mother dairy booth) & packed milk business like amul,paras etc.Its annual sale 1,50,00,000/-.
I want to know that any indirect tax is imposed upon assessee.if yes please tell me.
its profit margin just Rs.1 per kg.(approx).
My client business is milk (mother dairy booth) & packed milk business like amul,paras etc.Its annual sale 1,50,00,000/-.
I want to know that any indirect tax is imposed upon assessee.if yes please tell me.
its profit margin just Rs.1 per kg.(approx).
CA SUMiT PATWARi
(Expert)
16 October 2011
No indirect tax would be imposable on the assessee, apart from VAT( varies from state to state, as it depends on state rules)
manish sharma
(Querist)
17 October 2011
sir
first of all i want said to you thanks for your valuable reply.
its income from sale of milk is going which head i think pgbp.pls tell me sir.
first of all i want said to you thanks for your valuable reply.
its income from sale of milk is going which head i think pgbp.pls tell me sir.
CA SUMiT PATWARi
(Expert)
17 October 2011
Yes, it is a trading activity and will go under the head PGBP.
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