COMPOSITION SCHEME

This query is : Resolved 

20 October 2008 DEAR SIR,

I AM HOLDING A PROPRIETORY FIRM BY NATURE OF BUSINESS AS TRADING AND / CUM CONTRACT BUSINESS OF BMC / MAHADA.

HEREIN KINDLY GUIDE ME :

1. WHICH RETURN SHOULD I FILE FOR ACCOUNTING YEAR 2007-2008.
2. AT WHAT RATE SHOULD I PAY M.V.A.T. PAYABLE ON MY GROSS RECEIPTS.
3. AT WHAT RATE COULD I GET INPUT TAX CREDIT ON MY PURCHASES.

KINDLY GUIDE ME AT EARLIEST, AS TODAY IS LAST DATE OF MY RETURN FILING.

REGARDS,
KALPESH TANNA
9223209202

20 October 2008 KINDLY REPLY AT EARLIEST.

21 October 2008 1) VAT RETURN
2) TWO RATES ARE PREVAIING FOR COMPOSITION IE.,5% AND 8% WHICH IS OPTIONAL TO THE DEALER.
3) DEPENDING UPON THE ABOVE OPTIN, ITC IS RESTRICTED.

THIS IS ONLY STATE ALLOWING ITC UNDER COMPOSITION SCHEME WITH CERTAIN RESTRICTIONS.




You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries