Dear sirs,
1) Kindly let me know as to whether VAT is LEVIABLE on 1)Transport charges and 2)Freight charges if it has been separately shown under their respesctive head in the Tax Invoice
2)Also please clarify whether VAT NEEDS TO BE REVERSED on recipt of Cash Discount (i.e. when cash discount is given on a Gross amount which is arrived after Including Vat)
Thank you
CAclubindia
