Is Vat charegable for gift coupons sold by landmark, lifestyle Etc...
and also is vat chargeable on the value of free goods supplied along with the main product..
[Example Mazza Free with Lays Chips Family Pack]
please tell how it is done as your state vat act...
VAT is applicable on sales value. If you sell any free goods as Free of Cost, value is zero and no VAT is applicable.
Bharat Shah & Associates
Mumbai
CA Inter
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My Legal Tax Consultants Pvt. Ltd.
Noida
CA Inter
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CCI
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CAclubindia
