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Query on VAT Chargeability


Prabeer (B. COM (H) CA & CS Final)     24 November 2009

Prabeer
B. COM (H) CA & CS Final 
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Would VAT be applicable/charged on the sale of gunny bags, drums, etc (old & used)?

Please describe your answers.

avater

RAJU (LEARNER)     26 November 2009

RAJU
LEARNER 
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Hi,

 

Yes. VAT is applicable on sale of gunny bags, drums etc., 

 

VAT is a levy on sale of goods and is primarily governed by Sale of Goods Act. Goods have been defined to include all kinds of movable properties (other than news papers, shares etc.,). The VAT law of various States provide for Schedules giving therein the rate of VAT applicable on the goods including those exempt from VAT.  Hence, all immovable properties other than those specifically exempted under the VAT provisions are liable for VAT.

 

Hope you have been clarified.

 

 

avater

CA Manish Tarwani (Officer - Taxation)     07 December 2009

CA Manish Tarwani
Officer - Taxation 
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yes , the above goods is covered in the declared goods unde MVAT 2002

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BALKRUSHNA KULKARNI (SR. INTERNAL AUDITOR)     07 January 2015

BALKRUSHNA KULKARNI
SR. INTERNAL AUDITOR 
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Sir, if as a seller of old gunny bag, can we raise our invoice inclusive ( vat inclusive basis?)


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