Hi all,
Query - suppose, I m selling my diamond amounting to Rs. 12 Lakh to my friend, should I and my friend pay VAT on that. I and my friend not doing the business of diamond. we are govt. Employees ? (Delhi VAT)
If No, thn please tell the relevant provisions.
Thx nd Rehards,
Sachin
Dear ,
Please always mention the name of state if querry related to VAT or profession tax, so that an expert can give the relevent provision.
Hello Sir,
Sorry, its under DVAT, I modified also
Hai,
Shall we claim input tax credit on expenses like statiionaries, etc.,
No , VAT is applicable only if you are a trader, if you are a diamond dealer then irrespective of whom u sell it will attaract VAT, As u have mentioned that you are not a diomond trader and this is one off case, VAT does not apply here.
Hi Rajesh
Thanks, but dealer definition uplifting the confusion, its saying sale either once or otherwise,,,,, it actly saying sales at once liable to sales tax. plz tell me the provision which supports your view.
thx and best regards,
Sachin
any ans. plz
only on the basis of selling a goods once, VAT not effected. for being vat liability imported factor is the person should be a dealer and a business and transaction should be in relation of business wether it is directly or indirectly effected your business. in the light of provisions under DVAT act it seems you would not be covered under VAT regime.
Hi Sanjeev
Thank you,
can you tell me the DVAT provisions which support yours view.
warm regards,
Sachin
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