Reg Form VAT 505 under KVAT Act

18058 views 6 replies

Indudhar

Tax Advocate

427 Points Joined March 2009

Freinds,

I have a query regarding usage of Form Vat 505 delivery note under KVAT Act,

My client is Rough Granite Block trader puchases Granite Blocks in Karnataka from Quarry owners & sells the same to Tamil nandu, what documents should be accompanied during the transit. the Quarry owner has the permit license and pay the Geological Dept permit in their name. Is the same permit copy valid during the transport or once more the permit has to be paid by the trader in his name. Please guide me ..

Thanx in anticipation

Replies (6)

sandeep

proprietor

51 Points Joined June 2009

sales invoice and 505 should accompany the goods.and there should not be any clerical error and difference between the two

regards

sandy5128 @ gmail.com

Anoop

Service

345 Points Joined March 2009

What is the use of form 505 & legal entity ? Is it applicable for all transactions or sales or stock trf. outward?

Pls. Reply

sandeep

proprietor

51 Points Joined June 2009

form 505 is a delivery note

Anoop

Service

345 Points Joined March 2009

Originally posted by :sandeep
"	form 505 is a delivery note	"

From where form 505 receives (i.e. sales tax/vat dept. or from the market)? Is it necessary to authenticate from the authority and attach with each & every transactions.

sandeep

proprietor

51 Points Joined June 2009

the person tranferrin the ggods issues 505 the seller usually

MAHENDRA KUMAR BAGRECHA

FCA

1402 Points Joined March 2009

Dear Sir,

Form 505 has to be obtained from Juridictional Commercial tax department(i.e. LVO office) and Form 515 can be printed by dealer himself, subject to fulfillment of certain conditions. These forms should be used in case of stock tranfer, consigment transfer and also with Vat invoices while transporting goods. Recently KVAT Department has issued notification and made compulsory issue of Form 505 in case of transporting pepper, Marbles and Granites.