One of our vendor has raised Sales Invoice on us in which he included the freight charges. And on net amount he charged VAT ?
As per our Purchase Order terms freight is on our account.
Shall we book the invoice with full amount?
Thnx
Amit
1 Replies
LAXMIKANT JAIPURKAR
(Practicing Company Secretary/Tax Consultant)
(403 Points)
Replied 10 March 2009
Invoice may be booked for full amount. However, the VAT is not chargeable on freight amount. After basic price of goods, vat is to be charged at appropriate rate and thereafter freight to be charged as extra. Freight do not attracts VAT.
Recent Topics
- Excess claim and paid with DRC03
- Upload of qualified audit report on MCA portal
- Form 26QB on multiple installment
- Is Offering Group Health Insurance Worth It for Sm
- Export of services documents
- AOC4 & CFS,STANDALONE separately
- Gratuity Trust for IT company
- Rule 86B on utilisation of ITC
- GST Notice U/S46
- Download of list of eWay bill of inward supply
Related Threads
Trending Online Classes
-
6 days Certification Course on GST Practical Return Filing Process
CA Pratibha Goyal16 December 2024
CAclubindia
