VAT on Freight
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 November 2009
Sir,
My query is with respect to VAT laws in Karnataka. I would like to know should VAT be paid on Freight (inwards or outwards) mentioned in the invoice. If we raise a debit note seperately for freight charges, no VAT is payable. But if the same is included in the invoice itself (to save documentation) why should VAT be paid on total invoice amount?
Rule 3 of Karnataka VAT Rules deals with determination of turnover. No where in these rules is it mentioned that freight should be included in taxable turnover. Are we right in excluding freight from VAT?
My query is with respect to VAT laws in Karnataka. I would like to know should VAT be paid on Freight (inwards or outwards) mentioned in the invoice. If we raise a debit note seperately for freight charges, no VAT is payable. But if the same is included in the invoice itself (to save documentation) why should VAT be paid on total invoice amount?
Rule 3 of Karnataka VAT Rules deals with determination of turnover. No where in these rules is it mentioned that freight should be included in taxable turnover. Are we right in excluding freight from VAT?
13 November 2009
There is no vat on freight if basic taxable value of goods has been shown separately in Invoice.
If the rate of the item is inclusive of freight and there is no separate bifurcation then vat is payable on basic sales amt .( including freight).
If the rate of the item is inclusive of freight and there is no separate bifurcation then vat is payable on basic sales amt .( including freight).
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?
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- PAYMENT NOT SEND IN 180 DAYS
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
Trending Online Classes
CAclubindia
