CAclubindia

MJ Krishnamurthy's Expert Profile

Queries Replied : 1703

About me

I am a retired Assistant Commisioner of Commercial Taxes of Karnataka. I retired in 1998 at the age of 58.During this service I tried to go in detail about sales tax laws. Immeadiately after retirement some companies wanted to retain me as their consultant. That is how my touch with the subject of VAT laws continued.The website of CAclub india is giving a good opportunity to share my knowledge with others. I am an exserviceman from IAF. So, Iam a little different from other taxmen. We should do some service to the community that has offered us so much, That is my purpose.....Bye.

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MJ Krishnamurthy says : VAT on Stationery in MVAT Act
Ms Yamini Chandhak, All kinds of writing materialsi.e.pens,computer stationery(ink,ribbon,),paper, crayons,sharpners and printed materials and instruments of students are chargeable with 5% vat as per schedule 'C'.If there are any other articles used in an office it will be @ 13.5%.

Yamini Chandak says : VAT rate applicable on stationary items in maharas
sir, i would like to know the VAT rate applicable on plastic files & folders, Poly Poplyene files & folders, calculators, staplers, pens in Maharashtra.

M. Usman J. Khan says : thanks
dear sir, Thank you very much to give me the answer, i was confused because in Gujarat we got 5% vat in all cctv products and also in Delhi so i taught what about my state but thanks to you that you answer my question

MJ Krishnamurthy says : ST & VAT query
Mr Abhinav, Generally,all builders have an item in the total cost i.e.land cost.This is most of the time 30 - 40% of the total cost. In their returns to the VAT department they claim exemption on this amount.Second,car park and amenities are not handed over to you but some charges for enjoying it. No tax can be collected from you on that amount.So,if the cost of land and amenities(such as club,watchman,lift,24 hrs water supply,carpark,swimmig pool etc)makes up to Rs19 laks then the taxable cost of the flat will be Rs20 lakhs only. Out of this 70%(say Rs14 lakhs)is chargeable with vat @14%(or on total of 20 Lakhs @9.8%) and on Rs5 lakhs(25% of total)@ 12.36% ST. They should issue a tax invoice for this purpose,showing their TIN no.An invoice is to be isssued for collecting ST also. Without these invoice for VAT and ST you can refuse to pay such taxes or even report to the commercial tax department under e-grahak section of web site ctax.kar.nic.in.....MJK

Abhinav says : ST & VAT Query
Dear Sir, I have bought an under construction property & the possession will be in Dec 2013. Total property value is 39 lakhs & builder is charging ST & VAT as per below - Service Tax = (25% of Total cost of property A) X 12.36% Vat = (70% of flat cost + Car park + amenities) X 9.8% Please let me know if he is charging these taxes correctly and what documents should I ask him to make sure that he is paying these taxes to the government? Thx in advance.