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Jayanta (Service)     30 January 2010

Query on VAT

A Manufacturing company is registered with State Commercial Deptt (VAT) for selling manufactured products. However, it rarely sells perquisite assets to employees at a concessional rate ( which is not its business) and charges VAT. My question is whether company can do it without amending present scope of VAT registration. Does it ultravires its action in collecting VAT / depositing tax / submit return when it is not authorised by VAT registration to deviate from selling manufactured products.

Kindly advise



 9 Replies

Mandeep singh (ca)     30 January 2010

What are New amendments in Punjab Vat.

gopal awasthi (ADVOCATE)     03 February 2010

form 38 lost

Sachin Garg (Advocate)     05 February 2010

when company not authorized with the deppt. for sell the other thing how can they sell and charge VAT. Company have to file a application for amendment in selling items or not to sell other things. It can be creat a big problem at the time of assesment.

MOHD. SAIF SIDDIQUI (prop)     07 February 2010

form 38 is import declaration form in U.P. , if it is lost, immediately got the no. published in newspaper, and fiil indemnity bond and file bith with the department. quick

Ravi Kumar (Lawyer)     22 March 2010

In my view, you can sell your assets and collect Vat without giving an application for amendment in Registration Certificate. All you have to do is that the Vat you collected should be as scheduled tax rates. After selling the goods and collecting the tax, you have to file all the information regarding such sales you made in your next tax period return...

Selling of assets is not the regular business activity of the person.You have to show the details of your current assets before your assessing authority in your annual return..   

Ravi Kumar (Lawyer)     22 March 2010

If Form-38 is lost, you have to lodge an FIR, publish in local newpaper and fill the indemnity bond [@ 25,000.00 per Form] at Rs. 100.00 general stamp and therefter file the original indemnity bond before the assessing authority enclosed with copy of FIR, Newspaper...

snehasish chowdhury (self)     07 April 2010

my client branch office at west bengal......... my query is

1) what is rate of flex front left,back left (purpose of use for advertisng)

* client sale only flex sheet, to verias printing co.and adverting agency

* client all material purchase from out side india (importer)

snehasish chowdhury (self)     07 April 2010

my client branch office at west bengal......... my query is

1) what is rate of  vat in w b of flex front left,back left (purpose of use for advertisng)

* client sale only flex sheet, to verias printing co.and adverting agency

* client all material purchase from out side india (importer)


 

Rema (Advocate)     11 July 2010

Mr. Revikumar is properly answerd the issue as " Selling of assets is not the regular business activity of the person.You have to show the details of your current assets before your assessing authority in your annual return.."   I am adding a few lines.

In this case, please take the role of an awarder, if he has a works to be conducted through a  contractor. Then   it is his duty to deduct TDS under VAT Act equal to VAT dues( in Applicable states only) and pay the same to government.  VAT registration is not compulsory to an awarder though he is liable to submit a return in the presecribed forms in applicable states.  State like Tamilnadu, Karnataka, Kerala etc.

Rema   


 


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