payment of VAT
This query is : Resolved
09 January 2010
when I sell taxable good to my debtor and I am anable to recover niether money nor goods.my question is that should I have to pay VAT on such goods.
09 January 2010
no you dont need to pay VAT if your recovery of amount is zero and VAT is not payable even if goods are recovered also...further if you receive any payment in future for that goods you have to considered that payment inclusive of VAT and pay VAT on that amount.
09 January 2010
Dear Sushil,
1. U didn't mention the State.
2. In our State of Karnataka, Once, the Goods delivered, we have to pay tax, even if u not recovered the payment or the Customer not returned the goods.
3. In the case of the product manufactured against the Customer's specification, we cannot claim exemption from the payment of tax, even if the customers return back the goods within 6 month time.
This is as per my experience and knowledge.
1. U didn't mention the State.
2. In our State of Karnataka, Once, the Goods delivered, we have to pay tax, even if u not recovered the payment or the Customer not returned the goods.
3. In the case of the product manufactured against the Customer's specification, we cannot claim exemption from the payment of tax, even if the customers return back the goods within 6 month time.
This is as per my experience and knowledge.
11 January 2010
sorry to A.sankaranarayana for not mentioning the state.
State is Maharashtra.
State is Maharashtra.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- GST on export of services and Input Credit
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- RCM INVOICING FROM NOV-2024
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
- CASE INTIMATION OF LIABILITY UNDER SECTION 73(5)(Rule 142(1A)
- Need to correct "Whether it is last installment " response in Form 26 QB
Trending Online Classes
CAclubindia
