Hanes (-) (24 Points)
11 June 2009Dear Sir,
We will be suppling goods (buying & selling ) within India on instruction of a foreign company and our invoicing will be from that foreign company but the delivery will be within India.
Is MVAT applicable in such case?
Thanks
prashant
(self)
(101 Points)
Replied 23 June 2009
The sales tax depends upon the movement of goods. If it from your company located in India to other place in India then Sales tax will be applicable at the rate depending upon the nature of transaction (local/ interstate and the goods in question). But if you are making high seas sale transaction that is selling it before the goods entered into the customs water then the transaction will not be taxable.
So plan accordingly and follow procedures to respective transactions.
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Survey, Search and Seizure under Income Tax Act 1961
CAclubindia
