Respected All,
My the Client Registered under SALES TAX WEF 1.4.2006 and he has opened new company W.E.F 01.04.2012 on other name (which is not registered under MVAT) and in new company he has purchase goods of which is 12.50% vat from registered dealer and same goods purchase from new company to his registered old company.
Now in his new company proprietor is his son and sales and purchase both Turnover exceeds Rs.5,00,000/- in september 2012 and till 16 FEBRUARY 2012 HE HAS NOT APPLIED FOR VAT REGISTRATION AND NOW SALES AND PURCHASE BOTH TURNOVER EXCEEDS RS.13,00,000/- TILL DATE.
I KNOW THAT VAT REGISTRATION MUST BE APLLIED AS SOON AS PURCHASE OR SALES TURNOVER EXCEEDS RS.5,00,000/- WHICHEVER IS EARLY.
NOW MY QUESTIONS ARE AS UNDER :
1) WHEN HE APPLIED FOR VAT FOR NEW COMPANY IS SET OFF AVAILABLE TO OLD COMPANY WHICH HAS PURCHASE FROM NEW COMPANY AND CLAIMED VAT SET OFF IN HIS OLD COMPANY.
2) WHAT WE HAVE TO DO IF SET OFF DENIED BY OFFICER IS THERE ANY WAY TO CLAIMED THE SET OFF IF DENIED BY THE SALES TAX OFFICER.
3) NEW COMPANY DO NOT KEEP ANY STOCK WHATEVER PURCHASE FROM REGISTERED DEALER THE SAME IS SELL TO NEW COMPANY.
PLEASE GIVE US ADVICE WHAT TO DO IN THIS CASE.
CAclubindia
