Cash in kind transaction

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N a
21 Points Posted on 13 March 2012

 

 

Hi All,
 
I am a building material supplier and many of developers to whom I am supplying goods are willing to providing me property in exchange of goods that I am selling to them,so in this case can I save VAT as I am not selling my goods but I am creating an asset.Please let me know how do I proceed in such kind of transaction. 
 
Regards,
Neeraj
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On 13 March 2012 at 02:03 Report
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Service
273 Points Posted on 13 March 2012

Sale is concluded after consideration whether in form of cash or kind. I think you are talking about vat input credit. So if you want to get input credit on goods sold after purchasing of material , you can get vat input. 

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On 13 March 2012 at 10:41
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ca final
133 Points Posted on 13 March 2012

Dear sir,

you must raise a bill of building material including vat consideration may be cash or any kind. vat is not depand on consideration.you can get input output credit of vat.

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On 13 March 2012 at 17:24

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