What tax to charge
This query is : Resolved
25 March 2016
Sir if I buy goods interstate and make a sale within my state by courier or over the counter , what tax so I charge my customer ? VAT or CST , What about the input and output differences in the tax if any
26 March 2016
As per your query, you have buy from other state so it would be purchase in full tax or against C Form and its ITC will not be taken and Sale is happening in local state whatever mode of dispatch its call local sales so local tax will be charge as its your output vat. Finally no input tax credit only output tax will be payable.
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26 March 2016
Thanks For the Reply Sir, another doubt is Regarding What Documents are to be provided to the Transport Company in Case of Interstate Purchases, Also since i am new to CST, what Accounts Do i maintain for the Same ..Thanks in Advance
26 March 2016
You don't need to provide any documents to transport company. Seller have to do from their side. you just have to collect goods from transport. You have to maintain Proper Purchase & Sale Records and file your VAT Return as per state rules.
26 March 2016
Thanks once again sir, Sorry but just another doubt, if i'm making interstate sales, what do i provide the Transporter ..
26 March 2016
OK, Interesting
You have to ask your buyer to purchase against C Form or Full Tax then you have to prepare your bill (retail invoice) and delivery challan (as per your state rules online or offline) and preparation for dispatch thats it.
You have to ask your buyer to purchase against C Form or Full Tax then you have to prepare your bill (retail invoice) and delivery challan (as per your state rules online or offline) and preparation for dispatch thats it.
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27 March 2016
Who Provides the C form to Whom ? The person who sells Goods or the Purchaser ??
27 March 2016
again interesting question...!!
Purchaser (who is purchase against C Form) need to generate by entering purchase data in VAT annex. and file vat return and give to seller who collect 2% tax rather than full tax.
Purchaser (who is purchase against C Form) need to generate by entering purchase data in VAT annex. and file vat return and give to seller who collect 2% tax rather than full tax.
27 March 2016
Whats' Input and Output Register ? Do I need 2 Maintain it , if yes then whats the process ! Thnks in Advance !!
27 March 2016
You have to prepare Computation for that purpose and also yes you have to maintain records as per state vat rules.
01 April 2016
Sir , In case im selling goods online , through Amazon , What do i charge my customers, VAT Or CST ? Also in case i give a Discount , Do i charge The TAX on Discounted Amount (100-Discount @ 20% =80, TAX TO BE CHARGED On Rs.80) .. is this correct ? Thanks in Advance, Also just for reference Amazon Charges me its Fees on whatever price i list as a vendor on their portal, Which reduces my margin, since they are providing their name and Platform for selling , Thanks in Advance Sir
01 April 2016
You have to charge VAT if local and if other state charge CST (full tax) because customer will not give you "C" Form. Amazon fees will be your Commission Expense as indirect expense.
01 April 2016
That Means Sir i would charge UPVAT to the customer, even if i purchase the item INTERSTATE and Send the Same through Courier Services Through Amazon , is that Correct ...
01 April 2016
on Amazon web amount what you have shown is including TAX. So when you send a bill to customer prepare bill with that final amount
01 April 2016
I think VAT/CST should be on 80 Rs. except discount you are right.
01 April 2016
It doesn't matter from which state you are purchasing but it (VAT/CST) depends on where you send your item.
01 April 2016
Sorry sir , hope u dnt get irritated , What i want 2 Ask, its an interstate Sale, but through Courier Service , So I would be charging VAT, since the person buying is the final User of the Product .. Am i right or is there something else
09 April 2016
Hi ! Whats the process for INPUT TAX CREDIT in VAT / CST , if i pay 14.5% or 12.5% or 5% , and Charge 14.5% or any other %age , how is the Difference Setteled .. plz revert ! Thanks
09 April 2016
ITC available only on VAT.
I will show you by example
If you purchase
5% Basic 1000+VAT 50 = 1050
10%Basic1000+VAT100= 1100
15%Basic1000+VAT150= 1150
Total Basic 3000 + VAT 300 = 3300/- Purchase Bill Value
Now Sales Entry assumed 10% Profit
5% Basic 1100+VAT 55 = 1155
10%Basic1100+VAT110= 1210
15%Basic1100+VAT165= 1265
Total Basic 3300 + VAT 330 = 3630/- Sales Bill Value
Now Set off Entry
OUTPUT VAT 330
LESS INPUT TAX CREDIT 300
TAX PAYABLE 30
I will show you by example
If you purchase
5% Basic 1000+VAT 50 = 1050
10%Basic1000+VAT100= 1100
15%Basic1000+VAT150= 1150
Total Basic 3000 + VAT 300 = 3300/- Purchase Bill Value
Now Sales Entry assumed 10% Profit
5% Basic 1100+VAT 55 = 1155
10%Basic1100+VAT110= 1210
15%Basic1100+VAT165= 1265
Total Basic 3300 + VAT 330 = 3630/- Sales Bill Value
Now Set off Entry
OUTPUT VAT 330
LESS INPUT TAX CREDIT 300
TAX PAYABLE 30
25 April 2016
Sir where do I download or would be able to see the C form format for UP Government , also how many transactions are permitted with a single c form , plz revert Thanks
26 April 2016
You can download your C Form by login to your TIN if online system is available in your state. there is no limit of any C form transaction
11 May 2016
Sir
Do i charge the Full tax (UPVAT @ 14.5%) And Dispatch the stuff by courier/ post/ transport if the purchaser has not provided any C form or Road permit Etc and Show entry in my books as i do for any other INTERSTATE Sales,minus the Forms From my client ? He would not be providing any Forms in Future also (Post Transaction) please confirm !! Thanks & Regards ! Sumit
Do i charge the Full tax (UPVAT @ 14.5%) And Dispatch the stuff by courier/ post/ transport if the purchaser has not provided any C form or Road permit Etc and Show entry in my books as i do for any other INTERSTATE Sales,minus the Forms From my client ? He would not be providing any Forms in Future also (Post Transaction) please confirm !! Thanks & Regards ! Sumit
11 May 2016
Yes you have to charge full tax in purchase are not going to provide "C" forms.
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