Hello friends
Under Delhi vat provisons we were purchasing from unregsitered as well as registered persons.When we purchase from unregistered we were not paying any VAT Amount . Our total sales are Inter state sales , liable for CST.
Suppose a person is having a turnover of Rs.1 Crore on which he had paid CST amounting Rs.2Lakhs where purchases were as follow:-
From unregistered person = Rs.80 Lakhs VAT payable = Nil
From registered person = Rs.50 Lakhs VAT Paid = Rs.2.5 Lakhs
Closing stock as on 30th June 2017 = Rs.30 Lakhs
Carry forward of VAT Amount = Rs.0.50 Lakhs
FRIENDS PLEASE HELP ME HOW TO FILL TRANS 1 FORM FOR THIS.
Specially point no.7(c).
whether i should fill trans 1 form or not because during the fourth quarter return i can simply claim refund in that return.But what about the closing stock ?
CAclubindia
