If I import machinery and raw materials(which will be imported regularly) from outside INDIA to kolkata and from there it shall be transported to guwahati. What will be the taxability under entry tax or vat or cst act?
Menu
Entry tax/vat
Replies (2)
Dear Aarus
I think Entry Will be
Raw Material a/c (imported )
To Party A/c
State is transfer so it is taxable unde cst. act.
DERE FRIEND
AS YOU HAVE IMPORTED MACHINERY OR ANY THING FROM O/S INDIA THEN YOU WIL, PAY C.S.T ON IT AS WELL AS IMPORT DUTY AND OTHER DUES REQUIRED..................BUT WHEN IT COMES IN INDIA AND WHEN YOU SELL IT WITHIN GUJARAT THEN YOU WILL COLLECT VAT ON IT AND SO THAT C.S.T COLLECTED CAN NOT BE ADJUSTED AGAINST VAT COLLCTED.SO FOR THAT INPUT TAX CREDIT WOULD NOT BE CALIMED BY YOU AND IF YOU SELL IT O/S GUJARAT ALSO THAN ALSO NO CREDIT WOULD BE CLAIMED BY YOU. SO HERE ENTIRE TRANSACTION WOULD BE OF C.S.T BASE ONLY
NILESH NANDANKAR (C.A FINAL , C.S EXECUTIVE STUDENT)
Recent Threads
- Built a tool to automate Bank Statement to Tally e
- Normal Register in GST in delhi in gujarat no rece
- ITC availment relationship
- Challan confusion in ITR B block return
- U/s 23 (2)(a) and 23 (2)(b)
- Building a Strong Financial Foundation: Key Accoun
- Long Term Capital Gains for shares
- Hiring Company Secretary Manager with 2 Years of P
- Updated Return _ Deduction
- Turf Club Veterinary Department. Procurement Manua
Related Threads
CAclubindia
