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Vat

sushant gurav (Accountant) (391 Points)

20 December 2011

Sir,

Pls tell me ,

I have a voluntarily registered my propreitary firm under Goa Vat. My Turnover has not exceeded the limit required and my voluntary registration gets expired on 31.12.2011.

Now my question is , I will have to renew my voluntary registration , is it under the law to renew it.

Thnks

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4 Replies

Bhanu Prakash Rao (Think Beyond Stay Ahead...!) (1064 Points)
Replied 20 December 2011

Hi Sushant

VAT registration is voluntarily in case turnover does not exceed the specified limit because the dealer can claim the VAT paid on purchases as input credit if you are a dealer then it is benificial you to get register and claim the vat paid on purchase.

CA Priti Surana (B.Com, ACA) (298 Points)
Replied 22 December 2011

hi,

can someone tell me whether vat is levied on service charge also? i went to Pizza Hut and its billing structure was such that it took service charge @ 10% on the value of goods we consumed and then charged 12.5% vat on the entire amount, i.e. on value of goods consumed and the service charge. Was the billing structure right? and if yes, won't it amount to double levy? because on service charge they have taken vat, and they will pay service tax also on the same.

Again they charged 2.5% extra vat on the whole amount giving reason that the vat rate applicable for international food chain is 15%. is that so? i mean if it is operating in Gujrat, (My residence) are the vat rates applicable in the state are not applicable to them?

in and around they charged about 24% extra.

please clarify.