How it decide vat 4%, 5%, 12.5%..??
This query is : Resolved
03 August 2012
Our one local supplier who engaged in supplying stationery & housekeeping materials he charge Vat @4% on bills or some bills they charge Vat @5% or sometime 12.5%
How it decide ..?? n how can we cross check ??
How it decide ..?? n how can we cross check ??
03 August 2012
Each State VAT Act has listed number of commodities in various Schedules for exempted goods, 1% 4or 5% and rest of the commodities are general goods applicable for 12.5% now it is 14 or 14.5% according to the state.
You can cross verify the rate of tax in the schedule and if the products are not listed in the 4or5% category it will be charged higher rate of tax.
Whenever a query is raised, if you tell us your State, it will be better for us to refer the relevant provisions/Acts.
You can cross verify the rate of tax in the schedule and if the products are not listed in the 4or5% category it will be charged higher rate of tax.
Whenever a query is raised, if you tell us your State, it will be better for us to refer the relevant provisions/Acts.
03 August 2012
Sir, I am from Pune , Maharashtra
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Inventory of finished goods
- Disallowance of Section 43B(h) to sez units
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Sale of property furniture sale
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Confusion around Form 26QB fields
- RCM INVOICING FROM NOV-2024
- GST Regis.
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Tds on building rent monthly
- As per schedule III of balance sheet how to pass journal entry
- Is correct way to find out capital of individual on 31st March
- Individual capital equal to which assets of balance sheet
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
Trending Online Classes
CAclubindia
