Whether input vat can be availed for the sale of food stufs. One of my client is engaged in the business of hotel and they r charging VAT at the rate of 2% on the sale they made. Whether they can setoff such thing on the purchases they made (VAT is charged at 12%).
3 Replies
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 01 December 2010
2% is not a standard rate of vat, it may be composite levy without ITC
sandeep gupta
(CMA)
(34 Points)
Replied 04 December 2010
an unregister dealer sale printing and stationery to our client by charging vat @ 4%. our client is register dealer. whether our client can take input credit. or whether he should ignore paying vat to unregister dealer
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 04 December 2010
| Originally posted by : sandeep gupta | ||
 |
an unregister dealer sale printing and stationery to our client by charging vat @ 4%. our client is register dealer. whether our client can take input credit. or whether he should ignore paying vat to unregister dealer |
 |
Unregistered dealer can neither charge vat , nor can issue tax invoice. if they do so, ask them to provide / print vat number on their such invoice, or refuse to pay vat charged.
Recent Topics
- Clarity regarding Sec 16(4)
- GST ON HOTEL ROOMS details
- Relief for Delayed Filing of Tax Forms
- Expire stock
- INCOME TAX AY 25-26
- Experienced CA firm for accounting & auditing
- Regarding Perquisite Tax on ESOP - Unlisted Compan
- Casual Taxable Person under GST
- Extended Date of GSTR-1 for the month of July 2020
- NRO Interest - Taxed at source and in Foreign Coun
Related Threads
CAclubindia
