Anybody Knows about the recent changes in Delhi VAT Act . ie., VAT to be charged on freight charges while billing an item from delhi to cochin? Till last month, the company was charging VAT on the product cost and freight will be added separately at the end of the bill. Now they are charing VAT including freight charges. They says that this is a recent amendment in the VAT Act. Kindly inform regarding the issue.
Regds. Anil
AS PER HARYAN VAT CHAPTER X SECTION 49(1)
Where a taxing authority has, for the purpose of any
proceeding under this Act, reasons to believe that any goods
whether in stock or in transit, are underpriced in a
document or book of account produced before it, it may, with
prior approval of the Commissioner or such officer as the
Commissioner may, in writing, authorise for the purpose,
make an offer to purchase such goods at the price shown in
the document or book of account increased by ten per cent
plus freight and other expenses, if any, incurred by the
owner in relation to the goods.
Experts please correct me if I am wrong
regards,
Ritesh
correct
CAclubindia
