Jatinder Chugh
29 November 2011 at 17:12
I am regd dealer under punjab vat act. I want to buy yarn from outside state but i would manufacture cloth from this yarn which is tax free. Now can i get the exemption from payment of entry tax by submitting an indemnity bond/undertaking/affidavit. If yes then i need copies of the same in MS Word. Please send me copies of all these documents in MS Word
Jatinder Chugh
29 April 2011 at 15:08
I am a Govt. Contractor and want to know about works contract as how can I raise my bill, how much should be % of Labour and what rate of vat should i charge in bill if i am using material of 5.5% and 13.75 % in a single contract. If some is having complete details of works contract under punjab vat act pls mail it to me
Jatinder Chugh
22 January 2011 at 19:12
I am a regd dealer under PVAT Act and have bought cement from exempted unit and also from dealer who is taxable at first stage and issued me a retail invoice. Now my questions are 1) Can i claim notional ITC @ 4% on purchases from exempted unit. 2) Can i claim ITC on purchase made from the dealer 3) I am issuing retail invoice to persons other than taxable person. 4) Can i claim notional ITC on Total purchases made in a quarter or it would be proportionate to the sales made in that quarter. 5)What would be better for me to claim notional ITC or reduce purchase value of goods sold and pay vat on value addition only.
Jatinder Chugh
24 September 2010 at 13:19
If a person buys property in the name of his wife and gets housing loan in his own name and pays instalment from his own account can he claim deduction for interest on borrowed capital u/s 24 or only the onwner i.e his wife can claim the deduction.
Jatinder Chugh
18 September 2010 at 08:44
I am a regd dealer in Punjab and having a car in my books which is at least 6-7 years old. Now I want to sell this car. Now my querry is whether I have to pay vat on sale of car as I deal in business other than sale purchase of cars. If yes at what rate. I have to pay vat even if I have not claimed ITC on purchase of Car.
Jatinder Chugh
15 September 2010 at 19:28
I am a Regd dealer under Punjab vat Act and have purchased a capital asset on which 12.5% vat has been charged. Now my query is whether I can claim ITC on capital items @ 12.5% or at the rate of 4%.
Jatinder Chugh
16 August 2010 at 15:55
I am a regd dealer in the state of Punjab. I have crossed annual turnover limit of Rs. 1 crore in the year 2009-10. But my annual tax liability does not exceed Rs. 2 Lac. But by mistake i Have filed monthly vat return on Form Vat-16 for the m.o April-10 & May-10. Now I have come to know that i am not eligible for filing monthly vat return as my annual tax laibility does not exceed Rs. 2 Lac. Now what should i do. Should i continue to file monthly vat return for the rest of months or to stop filing with the immediate effect.
Jatinder Chugh
09 July 2010 at 16:41
I am regd dealer in Punjab and want to sent goods on consignment basis in Punjab as well as out of state and would pay commission to consignee. Now my question when i have to pay vat on the same when i transfer the goods to consignee or when actual sales take place at consignee's end and can i sent goods to consignee as stock transfer and book sale when i get sales report from the consignee and pay tax accordingly.How the same can be booked in case of goods sent outside state.Can i treat same as stock transfer or some consignment not to be sent. And whether the regd person outside the state selling the goods would have to pay vat and can such person issue me the C-form for the goods sent on consignment.
Jatinder Chugh
02 July 2010 at 15:55
I have got a residential house from my mother under will 2 years back. Now i want to sale it. Whether the gain would be short term or period of house held by my mother would be included in my period of holding and it would be a Long term. If it is short term can i get exemption u/s 54
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I have given a cash of Rs. 3Lac to my Son. I am a Govt Employee and the cash has been given out of my retirement proceeds. Now i want to give affidavit for the amount of Rs. 3 Lac given to my son. Could i get the format of the affidavit in Msword.