Subscription   New User   Login      
Tax Management India .com
TMI - Tax Management India. Com
CGST - Acts + GST Rates GST Ntf. GST Forms GST - Manual GST - FAQ State GST Acts SGST Ntf. I. Tax Manual
Extracts
Home List
← Previous Next →

VAT on MRP.

GST - States - No.V-32011/6/2015-5595/CT., - Dated:- 12-4-2017 - OFFICE OF THE COMMISSIONER OF COMMERCIAL TAXES, ODISHA, CUTTACK No.V-32011/6/2015-5595/CT., Dated 12/04/2017 CIRCULAR As per the provisions of OVAT Act, some registered dealers dealing in Drugs and Pharmaceuticals and procuring the drugs and pharmaceuticals from other States by way of Interstate transfer/purchase or by way of import are paying tax at the prescribed rate on the MRP. On subsequent resale of such goods, the dealers in .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

some mechanism for claiming credit of the tax paid on the available closing stock, but the procedure may not be a simple and dealer-friendly one. Keeping the aforesaid difficulties in view, an advisory was issued vide this office letter No.5091/CT., dated 31.03.2017 addressed to the President, utkal Chemist and Druggist Association to advise its members to collect tax on actual sale value instead of on MRP in the entire chain of transactions and to claim credit of input tax paid in due manner. .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 



|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version