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What is purchase in dvat return?

DVat 844 views 2 replies

I had imported some tablets for installation in my business out of which I sold some to retail customer.I have some question :

1.What should have been the VAT rate on retail sale?

2.In 2A in purchase how many number of tablets should I show as purchase-Total quantity imported or quantity sold to retail customer?

Replies (2)

1. In 2A , you have to show  the number of tablets purchased, not the number of tablets u have sold to customer.

2. Rate on retail sale is that rate on which u have purchased.

 

Regards

Piyush Tanwar

Article Assistant at Tiwari & Associates, Karol Bagh, New Delhi

Email - imcoolpiyush.tanwar @ gmail.com

Mobile No. - 09717468521

Thanks for replying Piyush.

 

As I mentioned, Imported the tablets and I was not charged Vat.But I charged Vat on retail sale @ 5%.Is it the correct rate?

Second thing suppose I imported 150 tablets and out of which I sold 10 to retail customer and rest I kept in stock for installation in my IT business.In this case will I have to show purchase of 150 tablets in 2a.

 

Thanks in advance.


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