vat

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Querist : Anonymous

Querist : Anonymous (Querist)

01 April 2010 Is it necessary to charge vat @ 5% on closing stock of 31-3-10 which is sold on or after 1-4-10

K Bala Kishan

K Bala Kishan (Expert)
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02 April 2010 Please check the VAT amendment date as per the state notification.

If the amendment is wef 01-04-2010 and your purchase order is on 30-03-2010 then the old rate will be applicable and if the PO date is later than or on 01-04-2010 then new rate will be applicable. This is applicable for the sales too.

Hope it is clear for you. If any clarifications, plz let us know.