WB VAT on holding charges of cylinders
This query is : Resolved
16 April 2009
Sir/Madam,
I'm auditing in a manufacturing company where they use oxygen, co2, etc. cylinders in the process and the supplier charges VAT on holding charges of cylinders beyond the free holding period. I'm unable to judge whether the supplier is entitled to charge the same on holding charges. The holding charges are seperately mentioned in the bills. Please help me out on this.
I'm auditing in a manufacturing company where they use oxygen, co2, etc. cylinders in the process and the supplier charges VAT on holding charges of cylinders beyond the free holding period. I'm unable to judge whether the supplier is entitled to charge the same on holding charges. The holding charges are seperately mentioned in the bills. Please help me out on this.
16 April 2009
If there is transfer of right of control to use, VAT will be applicable.
If you could further elaborate on the arrangements, will help to form an opinion.
If you could further elaborate on the arrangements, will help to form an opinion.
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