Answer Posted / motilal verma

vat stands for value added tax.sales tax is redefined &
renamed as a VAT. but central sales tax is remain same name
and applicable as CST. sales tax has two types.
1st- local sales tax that is also called vat.
2dd- central sales tax that is called cst.
filing of return is quaterly for vat & cst.
Rates of vat i.e. LST is 1%,4%,12.5%,20%
1% is used for selling gold silver diamonds ETC
4% is used for selling rice pulse medicine ETC
12.5% is used for cosmetic item ,packed tin food, pac &ked
water & luxurious item.
20% for liquor product.
filling process. -for purchasing
form Lp7 for 1%, 4% and 12.5% goods purchasing
for selling LS 9 for 1%,4%,12.5%,20%
Quaterly return form vat R1-its included all purchase during
three month mmention in Lp7 and ls9
yearly return vat R2 details regarding sale and purchase
throughout the year,
timing for filingfor 1st qtr-30july,2ndqtr-30oct and so on.

I have doubt on Input VAT & Output VAT (incoming vat / outgoing vat) I have a HMS software, where we have interface to tally erp. When we import the transactions to Tally from HMS (Hospital Management System) All the purchases what we do for a period, the tax paid on these purchase are showing as out going vat. Similarly when we do the sales of those purchased items through HMS, tax collected from customer is showing as incoming vat. Is these are correct terms what they had mentioned in HMS? Please help me out.

5897

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What is CAARO?

2175

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What is the difference between excise & service tax?

1129

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How can the management breakup the salary of employee(if salary Rs.10000/-) which % they calculate the Basic,T.A,D.A,H.RA.and e.t.c.

2108

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Can we get excise and VAT credit form staff welfare goods like shoes, uniform, goggles etc.?

2671

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what is city commodity tax

2013

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Can we use ST-38 outward form for a sale of Rs-100000/- with in the state i.e haryana

3037

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I raised a service tax invoice against a client on which i charged service tax and without receiving any sum from client a deposited service tax on good faith but now client refuses to pay sum . so please, tell me what should i do.

2280

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What do u mean by sales tax and who are sales tax practitioner ?

2332

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what is deemed sales? how to calculated

2322

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If a person got gold by wining a lottery and TDS on the gold value was not deducted by the deductor. After getting the gold, the person tranfer the gold to his daughter. After reading the provisions of the Income Tax Act, 1961, you are required to state that who is liable to pay the tax on the value of the gold? and is there any liability of the Deductor towards non-deduction of TDS?

3308

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I have some queries about Service Tax, I am working in a Insurance Broking Company. 1) We have raised one bill on 25.04.09 for the services provided by us in the month Mar, 09 Now We received the chq on May, 09 followed in the Month of June,09. When the service tax is actually payable in the month of received of Service tax amount or in the month of services actually provided by us (Mar09) 2) Can we take 100% credit of Service Tax Input paid to those who provided services to us. Suppose Service Tax payable is Rs. 100/- and Service tax charged by the other firms/company Rs. 80/-. The question is That can we deduct Rs. 80/- (already paid). Now Net ST payable would be Rs. 20/- or other percent of service tax input is available 3) What is the rate of interest for Service tax if not paid on time. Pls help me out asap

2176

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WHETHER VAT IS APPLICABLE IN FIRMER TRACTORS ? WHETHER VAT IS APPLICABLE IN NORMAL TRACTORS ? PLEASE NOTE THAT I HAVE PURCHASED IT BY PAYING VAT.

2268

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Dear Friends, Hai, i want to Know that How To Fill ETDS Return. Kindly Tell I'wll we very thankful to you. Deepak Gupa

1902

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AS PER VAT AUDIT WE HAVE REFUND OF RS.25000/- ON PURCHASE OF FIXED ASSETS WHICH WE DID NOT CLAIM LAST YEAR, NOW WHAT ENTRY SHOULD WE PASS IN BOOK. ITS URGENT

2153

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