28 November 2013
Co A owner of a warehouse gives space to Co B a distributor of certain goods on which VAT is applicable, Customer of Co B directly take goods from Warehouse.
Now what type of compliance are applicble on this transaction do Co A needs to take VAT registration ?
29 November 2013
Co A has nothing to do with the business.He has offered an accomodation/storage space to Co B. For doing trading in ataxable goods B has to take up registration. If that part of a warehouse is given to B on rent by an agreement then only B can register at that warehouse.If not B has to open a shop elsewhere and do only storing of his products in the warehouse. A's liability is he has to keep releavnt documents for all the goods kept with in his custody.Otherwise VAT authorities can make an inspection,seize the goods and collect taxes from A.....mjk
CAclubindia
