VAT applicability
This query is : Open
28 September 2009
Hi,
One of my clients is the wholesaler of silver coins.They follow the following process.
· Buy Raw silver
· Manufacture silver coins
· Get special box prepared with special effect of printing
Cost of Special box is more than the value of silver coin.
If they sell only silver coin they will self for 200 Rs but they sell with box they sell for 450 Rs. When they sell the silver coin with box should they charge VAT @1%?
Hi,
One of my clients is the wholesaler of silver coins.They follow the following process.
· Buy Raw silver
· Manufacture silver coins
· Get special box prepared with special effect of printing
Cost of Special box is more than the value of silver coin.
If they sell only silver coin they will self for 200 Rs but they sell with box they sell for 450 Rs. When they sell the silver coin with box should they charge VAT @1%?
28 September 2009
yes
29 September 2009
While selling should he sell based on per gram or per piece to attract 1% VAT.
EXAMPLE WHEN HE SELL NORMAL COIN RATE WOULD BE 20 Rs per gram and when he sell with BOX rate would be 45 Rs per gram?
EXAMPLE WHEN HE SELL NORMAL COIN RATE WOULD BE 20 Rs per gram and when he sell with BOX rate would be 45 Rs per gram?
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