if Dealer X registered under MVAT under the Voluntery basis on 01.02.12 w.e.f. but he purchased the goods before taking the registration i.e. before Vat TIN from Dec 11 !
can he claim VAt credit on these purchases ?
plz reply as early as possible
Menu
Section 44ad
Replies (4)
Agree with above
Dear Sameer if you have volunteerly apply for VAT TIN No. then you can not avail ITC of purchase before apply for registration, if your bill was after application date and even if your received retail invoice for it...then it will considered as ITC on purchase after approval of AO
Dear Niranjan yes, he will get benefit of 44AD 8% deemed profit on his professional service if his t.o not goes above 60 lacs.
Dear Sameer if you have volunteerly apply for VAT TIN No. then you can not avail ITC of purchase before apply for registration, if your bill was after application date and even if your received retail invoice for it...then it will considered as ITC on purchase after approval of AO
Dear Niranjan yes, he will get benefit of 44AD 8% deemed profit on his professional service if his t.o not goes above 60 lacs.
Agreed with Mortaza...
Recent Topic
- AIS UTILITY
- NPS Premature withdrawl -Tier 1 Account
- Provident fund taxation
- ITR3 AY 26-27 Error in filling status
- Queries on TDS as per IT
- Capital Gains set off on Sale of Land if held for
- ITR Form for income from freelance consultancy
- Gst rate for HSN code 28530010
- Health Insurance
- India GST Mobile App
Related Topics
CAclubindia
