VAT refund matter
This query is : Resolved
08 November 2008
I have filed my Q2 2008 returns with VAT dept.
I have made purchases in Local and made export sales that known Central.
My question is -:
When I make purchase of local - My input tax increases.
And when I make Export sale (Central) I have valid for the claim on the output ?
Also, when I buy goods from the local market with description as "Hamam Soap" and when I export I mention "Soaps".
Will this affect my refunds ?
I have made purchases in Local and made export sales that known Central.
My question is -:
When I make purchase of local - My input tax increases.
And when I make Export sale (Central) I have valid for the claim on the output ?
Also, when I buy goods from the local market with description as "Hamam Soap" and when I export I mention "Soaps".
Will this affect my refunds ?
08 November 2008
Ok.
Could it be more clear Mr Vinod.
I am new in Business and require helps of experts like you guys.
Could it be more clear Mr Vinod.
I am new in Business and require helps of experts like you guys.
08 November 2008
The VAT can be set off against the local sales, what is the difficulty?
08 November 2008
Yes, VAT is only chargeable on local sales.
What I meant is, the dept is not related to the description of the goods ?
Because like I explained earlier, I buy Hamam soaps with VAT paid local Delhi purchase.
And I export with description only as "Soaps"
Because this is what I exported and just have a confusion.
What I meant is, the dept is not related to the description of the goods ?
Because like I explained earlier, I buy Hamam soaps with VAT paid local Delhi purchase.
And I export with description only as "Soaps"
Because this is what I exported and just have a confusion.
08 November 2008
One to one relation is not necessary to claim input tax credit. This is the basic principle of VAT irrespective of the state you belong. In otherwords input tax of 'Hamam soap' can be set off against the tax payable on 'Soap'.
09 November 2008
Thank you guys.
For now you have solved my query.
When I need more on this I will call you all again.
Thanks you
Regards,
Sudhanshu
I have rated you all.
For now you have solved my query.
When I need more on this I will call you all again.
Thanks you
Regards,
Sudhanshu
I have rated you all.
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
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- 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
