Can fright charges be included to calculate vat amount?
Answer Posted / m.l.v
yes , freight is chargeable for vat , if invoice is made
without vat of freight and freight is shown in invoice i.e
amount of goods + vat= total amount+freight =grand total
while you assesement will took place you will have to pay.
so while raising invoice freight should be included and
calculation of vat should be= Total amount of
material+freight +vat of material and freight. if you are
not doing so you will have to pay vat on freight on assesment.
Is This Answer Correct ? | 13 Yes | 1 No |
Post New Answer View All Answers
In an E1 trasaction, if the dealer fails to get the E1form from his supplier& submit it to the Sales Tax Authority, then how much will be the expected penalty from Sales Tax department, if the local tax of those item is 14.5%? Please Note: Dealer has submitted all other documents to sales tax including customer Cform expect E1 form. Kindly give us the valuable answer with the supporting CST circular number.
accounting taxation
if i am running a tank lorry and the income of the tank lorry comes under haryana VAT 2003?
What is meant by asset clearance . how should i make my entries in tally
I want to do correspondence course related for taxation, where I can learn income tax, service tax, sales tax etc. Any one can suggest from which university can I do and name of the course also.
Please explain how to pass entry for VAT setoff and Service Tax Credit?
Is there any change in the section 80E for the financial year 2009-10
Define deferred tax liability? What items come under deferred tax liability?
Can we get excise and VAT credit form staff welfare goods like shoes, uniform, goggles etc.?
what do you mean by cenvat? and in which is liable?
how i get h form
How to calculate long term capital gain
I run a small consultancy firm (partnership with my mother) from my residence address. My firm is not registered, but I do have a separate PAN for it. I do not have any salaried employees. I get work done by freelancers and vendors and pay them against invoice. My annual revenues are just about Rs 5-6 lakhs. I am aware that I would need to register for service tax once I touch Rs 9 lakhs. But I am confused about my obligation to get a TAN and deduct TDS for all vendor/freelancer payments. Are there any minimum thresholds for withholding TDS? Right now I pay 100% of invoice amounts. Please advise.
What is permanent account number (pan)?
How to reconcilation of modvat