Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram

TMI Blog

Home

ADVANCE VAT RULING

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Dear Sirs, I am a consignment agent for a Andhra based compnay dealing with ayurvedic products, two years back I applied for a VAT ruling of 5 % from 14.5%, ( for all ayurvedic medicine and products the vat rate is only 5%) till date there is no response from the Sales tax department, If the department denies to give VAT ruling of 5 % what will happen, ( we are paying tax @ 5% for the past tw .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... o years, earlier for 6 years we paid tax @ 14.5%) (all our product requesting for 5 % tax is having valid AYUSH DEPARTMENT CERTIFICATES) kindly reply - Reply By Ganeshan Kalyani - The Reply = When you product is not specifically covered under VAT schedule entry then it will be considered under residual schedule entry and higher rate of tax is liable to be paid. You have applied to get ruling .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... from Authority for Advance Ruling. But so far you have not received any ruling. At the outset I would like to know whether you had followed up with the department for taking up your case or whether there had been a hearing in this regard. Anyway untill you receive any ruling from the authority you should have collected higher rate and paid it to the exchequer. But at present situation there m .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ay happen that in ruling you may get unfavourable order. Then in that case you will have to pay the differential tax along with interest. Thanks. - ADVANCE VAT RULING - Query Started By: - SUBRAMANIAM MEENAKSHI SUNDARAM Dated:- 18-3-2016 Value Added Tax - VAT-CST - Got 1 Reply - VAT and Sales Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Managemen .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... t India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

 

 

 

 

Quick Updates:Latest Updates