Vat

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phaniram (Querist)
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28 October 2011 A dealer transferred goods to a consignor for sale ,consignor after adding some commission sold the goods .now as the dealer even though paid vat on attaining goods cannot avail credit…and the consignor has to pay output tax on the sold goods .So both cannot be adjusted …could someone suggest a provision in tat case

MJ Krishnamurthy

MJ Krishnamurthy (Expert)
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28 October 2011 Mr. Phaniram,
There is no solution to your problem.The consignor ,in any case has to pay output tax on his sale.The consignee could have retreived a part of VAT paid on purchases if he had sold his goods to the consignor against 'C' form charging 2% CST.Then he could have claimed backthe excess of input(i.e.VAT paid on purchases-CST) in his returns.In future you can try this method.

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Sundaram Kumar

Sundaram Kumar (Expert)
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28 October 2011 Mr phaniram, the vat payable can be adjusted with the Purchase Credit what you are having in your Books, like that your consignor also can avail. - Sundaram Kumar

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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09 July 2023 "Sorry, I am not a featured member."

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