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Notional calculation for sales exemption if Form C and Form IX submitted

VAT and Sales Tax - Started By: - NAUSHERAWAN SM - Dated:- 13-7-2016 Last Replied Date:- 15-7-2016 - Sir,We are manufacturing MV Parts and Excavator Parts. The sales tax exemption granted by the Jharkhand state under S.O. 479 and S.O. 481 of Bihar fi .....

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ar finance act ( they are entitled to purchase goods under concessional rate of tax ). We had adjusted sales tax exemption on monitory limit and notional calculation done on concessional rate of tax. The deptt. has assessed our books and accounts and .....

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ot submitted statutory forms. The depart has re-assessed our records for all period and demanded huge tax on us.Let me know whether statutory forms is required for notional calculation on concessional rate of tax. The notification S.O. 479 and 481 do .....

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s given for X amount. As and when sales takes place the sales tac on the same would be reduced from the given Notional benefit. If the sale is local then applicable local tax rate has to be applied to arrive at the tax amount to be adjusted. Similarl .....

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s it is required to be obtained to enjoy the benefit under sales tax. This is my view. I welcome views of my collegue experts. Thanks. - Reply By Ganeshan Kalyani - The Reply = Sir, additonally you should check for period of limitation of assessment. .....

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