hireshire (n/a) (185 Points)
02 November 2011A company sells fish aquarium. Is VAT applicable on sale of fish aquarium as a whole? Is VAT applicable on sale of fish aquarium related materials like aquarium glass, air pump, pipe, filter, heater, gum, marine stones, ordinary stones, aquarium light, food and fish?
chandra shaker
(TAX PRACTITIONER)
(59 Points)
Replied 02 November 2011
A FISH AQUARIUM IS A TAXABLE GOOD AS IT IS MADE OF GLASS OR ANY OTHER MATERIAL AS WELL AS OTHER ELECTRICAL /ELECTRONIC ITEMS USED FOR AQUARIUM ARE TAXABLE AND THE RATE OF TAX WILL BE ACCORDING TO THE GROUPING MADE IN DIFFERENT SCHEDULES UNDER RESPECTIVE STATE ACT .
G.S.CHANDRA SHAKER
SALES TAX PRACTITIONER
Harshal Fifadra
(Chartered Accountant)
(1489 Points)
Replied 02 November 2011
Yes the VAT would be applicable on the whole value of the aquairium . There is no need to separately charge VAT on the materials which are aquairium related . However if the aquairium related materials are sold separately then VAT would be charged separately .
Live class on PF & ESI Enrollment & Returns Filing(with recording)
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