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Haryana vat return problem urgent

CA Parul Saxena (CA) (8426 Points)

21 January 2016

in form lp-4 what to select in rate of tax in case of highseas purchase as no vat is levied on the same.

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4 Replies

Subramanya (Tax Consultant) (523 Points)
Replied 02 February 2016

Dear CA Parul Saxena,

In case of LP 4 (High Sea Purchases), in Rate of Tax field, dealer has to update Applicable Rate of Tax as per Haryana VAT .

For example, If a deler purchases Computer Peripherals throught High Sea Purchases and which is exempted from VAT.

As Per Haryana VAT Schedule, the VAT rate for Computer Peripherals is let's assume 5% VAT + 5% Surcharge, User has to select 5% (Surchargeble) = 5.25% from the list of Rate of tax field.

With regards,

Subramanya

CA Parul Saxena (CA) (8426 Points)
Replied 02 February 2016

but highseas is exempt from tax then what to select in rate of tax? if it is to be 0% then which one as there are 2-3 options....

Subramanya (Tax Consultant) (523 Points)
Replied 02 February 2016

I agree that High sea Purchases are exempt from Tax. However, Department wants to know Applicable Rate of Tax for the Commodity in Haryana (Not for calculation purpose).

Same Applicable rate of tax option is provided in LP 5 (imports) also.