I am having a ice cream (dealer from havmor) and fruit juices shop in Gujarat. At what rate VAT would be charged from the customer if i want to avail an input tax credit of tax paid to wholeseller?
2 Replies
Chitra Alagappan
(BCOM., CA Final)
(464 Points)
Replied 09 February 2012
You have to charge the Customer @ 5% VAT Rate
neel123
(Individual)
(44 Points)
Replied 09 February 2012
I THINK 5% IS THE RATE IF WE OPT FOR COMPOSITION SCHEME (I.E. LUMPSUM TAX RATE) FOR WHICH NO INPUT TAX CREDIT IS AVAILABLE.
IF IT IS NORMAL TAX RATE FOR WHICH INPUT TAX CREDIT IS AVAILABLE , THAN PLEASE TELL ME IN WHICH SCHEDULE IT IS MENTIONED, ALSO TELL ME IF NOTIFICATIONS OR CIRCULARS ARE ISSUED IN THIS RESPECT
THANK YOU,
Recent Topics
- GST registration -notice
- GSTIN Suspended Form GST Reg 17
- Request for GST Clarification regarding ITC
- Is Capital Gain exemption available for Property a
- EPF CONTRIBUION BY EMPLOYER
- Letter of credit -seller procedure
- Filling form 26 QB
- RPT AND ITC ISSUE
- Tax Liability and ITC Summary related Issues
- REQUIRED FORMAT FOR AMENDMENT TO PARTNERSHIP DEED
Related Threads
CAclubindia
