Dear Members
Kindly advice on
Q. Whether VAT is applicable on charges levied under Right to use agreements between group companies.
Regards
Renu
CS
Menu
Query under VAT
Replies (8)
largely Yes because the definition of sale and sale price includes compensation for right to use in almost every state however there is provisions of input tax rebate in some of the states
Sir.i want to know How the adustment of VAT on Sale & purchase is done in the ledger Accounts.
i m agree with Sameer
definition of sale was amended in article 366(29a) of the constituion of india in which right to use is apllicable for VAT
Dear Member
Plz advice me how to calculate vat in delhi and if u have calculation of vat in exel format then plz send it at my id ajaykumarraj @ gmail.com
YES
kindly see definition of sale in CST
AND CLUSE VI UNDER DVAT
kindly see definition of sale in CST
AND CLUSE VI UNDER DVAT
| Originally posted by :K Renu | ||
| " |
Dear Members MBA
|
" |
VAT NOT APPLICABLE TO FUND RECEIVED FORM ABROAD
| Originally posted by :Guest | ||
| " | Sir.i want to know How the adustment of VAT on Sale & purchase is done in the ledger Accounts. | " |
JUST Credit what ever amount of tax collected from u r bill in duties and tax head -For Sales
and just debit what ever maount of tax paid on purchases bllls in duties and tax head-Differenct amount is tax or refund
Recent Topics :
- Is GST registration mandatory in this case
- Buying a residential flat in Goa: should my wife b
- Income tax filling
- Applicability of RCM in the case of import of serv
- Confusion in gst registration for service category
- Itc claimed from return defaulters
- Gst input credit
- CAN PARTNERSHIP FIRM SIGN SERVICE AGGREMENT WITH A
- E-waybill
- Sell of CAFC books
Related Topics :
CAclubindia
