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Gujarat Vat

VAT (Legacy) 2675 views 5 replies

Mr. X is service provider and having registration under service tax.

He is not having registration under gujarat vat act.

Now he wants to sell burnt oil (which remained after consumption of oil & lubricant at his site).

The value of this burnt oil is Rs. 50000/-.

Whther Mr. X is required to get registered under Gujarat Vat Act to sell this burnt oil? (Mr. X is having no other sales during the year.)

If answer to above question is NO, then can he give invoice for this sale?  

Replies (5)

 

Registration: For Value Added Tax Act, 2003

 

1)      Types:

Compulsory: (section 21)-If the total turnover during the year immediately preceding the appointed day exceeded Rs 5 lakhs and whose taxable turnover exceeded rupees ten thousand in a year.

Voluntary: (section 22)-On making a deposit of Rs 25,000 which can be adjusted against tax liability

 

you can issue invoice as an unregistered dealer. 

Thanks for your reply.

Is Mr. X not liable under casual dealer category to whom only 10000 limit applies ?

IS LACES (W/WO EMBROIDERIED STICHED ON DUPPATA or ETC...) TAXABLE UNDER GUJARAT VAT? IF YES WHICH TAX RATE APPLICABLE?

THANKS 

State Finance Ministers decide on 7.1.2002 to introduce VAT from 1.10.2002. Steps taken by Gujarat for tax reforms: Slabs of sales tax rates reduced from 23 to 6.


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