In march the vat rate on garments was 14% but it's now again 4%..then, for march vat should be deposited @ 14% or 4%??
please help me at earliest..
thanks in advance..
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VAT Query
Replies (5)
vat shouid deposit @ 4%
@ 14% , 4%...aplicable from 1/4/2010.
NEW VAT RATE IN STATE OF JHARKAND
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You have been collected vat @ 14% in march on garments so you should pay the collected tax ie., 14%. You have no right to hold the colected tax of 10% and paying 4%. It will attract interest and penalty for the 10%. If the rate on garments is @ 4% from April, it is applicable from April only. |
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THANKS ALL
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