Asked in Personal Finance & Tax at 7:14 PM on February 25, 2010
Tags: sir vat charged cst rates invoice gujrat state
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Answered by sam jack at 7:16 PM on February 25, 2010
Value Added Tax similar to sales tax or central tax. Differs from state to state. Generally supposed to be 4 all over the country. Maharashtra charges 5.
Hi,Composition scheme under VAT regime can be said to be a simplified scheme for calculating, charging, collection and payment of sales/vat tax. The basic idea of introducing the scheme is to enable of resale and retail. State Government has notified Composition Scheme vide notification No. VAT-1505/CR-105/Taxation-1 dated 1st June 2005 and amended form time to time. To know more details, please refer
if it is subjected to VAT separately &183; charges for planning, designing and architects fees &183; hire charges for machinery and tools &183; costs of consumables such as water, electricity, fuel used have not opted for composition, can I claim set-off for the VAT I have been charged on the purchase of the goods to be transferred in the works contract or on capital assets purchased for use
with a glass of warm milk. Available with Subbies Herbo Care, Mumbai. Price Rs.700.00 per bottle of 250 grams. The prices quoted are inclusive of VAT, packing, forwarding and courier charges any where
on final consumption, exports which by definition, are consumed abroad are usually not subject to VAT and VAT charged under such circumstances is usually refundable.VAT is a nationwide tax of 17, if you are buying a computer for &163;100, the VAT will be 17.5. Multiply &163;100 by 0.175 to work out what you are being charged as VAT &163;17.50.Some items with perceived social benefits may have a
to the "value added" the price over the cost of the sheet steel. The wholesale distributor will then continue the process, charging the retail distributor the VAT on the entire price to the retailer details of VAT it has been charged referred to as input tax and VAT it has charged to others referred to as output tax. The difference between output tax and input tax is payable to the Local Tax Authority
they are charging not inclusive of MRP.i.e, MRP VAT...no man...yes...First of all this is VAT not WAT. It stands for Value Added Tax. previously it was Sales Tax. It applies on sale. So when you purchase and wants bill then it is obligation on shopkeeper to charged VAT on it. Because by bill it will effect his accounts and VAT deptt can track him if he is not charging VAT. But when you are not taking bill he can hide that transaction
product. However, if VAT is charged on export goods, the tax amount is usually refunded to the tax payer.Value added tax can also be recovered. The individual consumers cannot recover VAT on purchases madeValue Added Tax, popularly known as VAT, is a special type of indirect tax in which a sum of money is levied at a particular stage in the sale of a product or service. In 1954, the value added tax
frnd income tax is d payment u have 2 give 2 d government for income u earn by urself ................................... ....................... jocks apart dear frnd it is d tax charged on ur tax paid on income within in a given finacial year.........got it now.....its an tax on ur annual income Sir. Simple...its part of ur income which is paid to govt so that they can run the country
Put simply, a business will pay VAT on its purchases, which is called input tax, and charge VAT on its sales, which is called output tax. Knowing how much VAT you should charge on a sale and no VAT is charged to the customer. Find out when your goods and services are subject to or exempt from VAT on the HMRC website - Opens in a new window..The crucial difference between goods and services
quoted are inclusive of VAT, packing, forwarding and courier charges any where in India. For more information, please contact by email infowrudved.com or subbie19gmail.com or phone: 09320119741 10.00 AM
