27 March 2012
Is Vat charegable for gift coupons sold by landmark, lifestyle Etc... and also is vat chargeable on the value of free goods supplied along with the main product.. [Example Mazza Free with Lays Chips Family Pack] please tell how it is done as your state vat act...
28 March 2012
VAT is payable on the total consideration received. Consideration is for the goods sold and free goods given as per scheme. Under the circumstances No vat is payable on the goods given as free along with material sold for consideration.
CAclubindia
