Entry Tax paid for Car purchased Rs.800000 and this amount
may adjust to VAt payable. Noted that we are filing vat
return on the compound basis.
Answer / abhivirthi tax and industrial
Dealers paying tax at the Compounded rates basis shall not be entitled to input tax credit on the goods purchased by them and the dealers paying tax at the compounded rates basis should not collect any amount by way of tax or purporting to be by way of tax on their sales and hence there is no provision to adjust the entry tax for the car purchased towards VAT payable.
Reply From:
ABHIVIRTHI Tax and Industrial Consultancy
R.R.JAGADEESAN
VAT PRACTITIONER AND INDUSTRIAL CONSULTANT
H-63, Palaami Enclave, New Natham Road,
Madurai-625014.
Cell: 9994990599
Is This Answer Correct ? | 1 Yes | 0 No |
WHAT IS CORPORATE TAX ?
What will be general entry for VAT or Sales Tax paid to government in cash for an Financial year?
If possible Vat Charged on Service Tax ?
What Is The Chart Rate For Deduction Of TDS On Salary
3 Answers ADS, Petrochemicals, Real Estate,
excise duty receivable is current asset and does not include in purchase value ?
If we taken TIN No.for sale in intra & interstate , CST No.also required to take? ?
i received commission with deduction of tds how to take entry in my books. commission Rs.90000 Tds.10000
What is the difference between TDS and TCS?
24 Answers Godrej, SSK, TCS,
What is deffered tax? Explain breifly.
what is service tax rate of work contract in f.y.2012-2013 and what is compos ion scheme and normal scheme
who is liable to pay excise duty on monthly basis?or what is slab for excise duty liable to pay for monthly,quarterly ro half yearly?
hi, When we post vendor down payment by the t-code f-48 the TDS line items are not flowing when i am simulating it.there may be some error in configuration.please help me.