what is procedure to pay the vat on scrap purchase
This query is : Resolved
02 April 2009
one of my clint purchased sick industry as a scrap material , it was closed in the year of 2002, that's way they don't have vat registration and also waybills. in that situation, what is procedure to prepare invoice and what about tax on that scrap sale.what is the procedure to shift that material by my clint
02 April 2009
You have register with vat authorities. And the above will be treated as purchase from unregistered dealter and you have to pay vat on it. Being bulk amount you can adhoc amount to the dept. and can lift the materials from the industry.
The other way ask the indutry person to register now and then he can sell to you then you need not pay purchase tax unncessarlily.
The other way ask the indutry person to register now and then he can sell to you then you need not pay purchase tax unncessarlily.
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