Exempted Goods
This query is : Resolved
13 August 2010
Dear Sir/ Madam,
We have a Trading Firm based in Rajasthan. I purchased HDPE used bags from a manufacturing concern. They charged vat 5 % on such item. As per the Raj Vat Rules "used bags" is exempt from tax subject to the item should be mentioned in Registration Certificate of the seller. in our firm's registration certificate item "used bags" is mentioned.
Qurie is
When I sell the used bags whether i have to charge the vat on sale bill ? where as i paid the VAT at the time purchases but Item "used bags "appeared in my registration Certificate
and if VAT is not be charged at the time of sales then is the credit received on such a purchases can be utilised for other transactions?
We have a Trading Firm based in Rajasthan. I purchased HDPE used bags from a manufacturing concern. They charged vat 5 % on such item. As per the Raj Vat Rules "used bags" is exempt from tax subject to the item should be mentioned in Registration Certificate of the seller. in our firm's registration certificate item "used bags" is mentioned.
Qurie is
When I sell the used bags whether i have to charge the vat on sale bill ? where as i paid the VAT at the time purchases but Item "used bags "appeared in my registration Certificate
and if VAT is not be charged at the time of sales then is the credit received on such a purchases can be utilised for other transactions?
13 August 2010
On exempted goods no ITC shall be allowed even if the goods were taxable at the time of purchase or exempt in VAT.
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