Query on VAT Chargeability

VAT (Legacy) 1329 views 3 replies

Would VAT be applicable/charged on the sale of gunny bags, drums, etc (old & used)?

Please describe your answers.

Replies (3)

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.

 

 

yes , the above goods is covered in the declared goods unde MVAT 2002

Sir, if as a seller of old gunny bag, can we raise our invoice inclusive ( vat inclusive basis?)


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