Vat rate
ketan maniar
(Querist) 25 April 2014
This query is : Resolved
Dear sir,
I am in a business of selling say x product, this x product is being manufactured by various companies. Some of these manufacturers use a particular excise code whereby it attract a lower rate of tax, whereas only one manufacturer classify under different excise rate which attract higher rate of vat tax.
Each trader charges differently for this x product.
Unknowning for 15 months , I charged lower rates, once I came to of the problem, I switched to higher rate to be on safer side.i am also loosing a lot of businesses.
Please advice what to do.Do we have a judicial verdict on such a situation.
R K JAIN
(Expert) 28 April 2014
Ask a clarification from Sales Tax Commissioner with due procedure.
T. Kalaiselvan, Advocate
(Expert) 28 April 2014
Better to consult a tax consultant i the local and seek his advise apprising him the situation.
