Vat on expenditure item sales

899 views 7 replies

A Purchase is Accounted  as expenditure we didnt claim input vat .When the same item sold and accounted as  Sales we need to pay VAT or not? Pls Clarify me..

Replies (7)
Yes, you need to pay VAT. if the item is eligible for VAT.
Agree with Expert. You need to pay the VAT

yes ...right ...Input couldn't claimed in many cases such as when the dealer has opted for composition scheme , or bought from unregistered dealer  and so more cases.

 But as VAT records are maintained properly ... only then a dealer can claim for credit ..

 

otherwise he have to pay the VAT as per the rate

Yes VAT will be applicable on sale even though it is not the product in which you are dealing 

 

Ok ...

If we Pay Vat for Expenses then we can't claim Input credit on it. For example if we purchase Petrol or Diesel for Car and Scooter then we cant claim input on it.... we can claim only on good in which we Deals

what would if i purchase staff welfare goods, is it eligible for cenvat credit??/though business activity is job worker or labour worker

Dear Mr. Jeetu Chandwani,

               The Whole Amount on Labour Welfare are Eligiable for Deduction from Gross Revenue. So there is no chance for Input Credit.

Thanks


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register