TaxTMI 
TaxTMI 
Clarification - "Zero rated Sales"
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....larification - "Zero rated Sales"<br> Query (Issue) Started By: - Jayesh Shah Dated:- 7-4-2008 Last Reply Date:- 11-4-2008 VAT + CST<br>Got 2 Replies<br>VAT / Sales Tax<br>As per newly insterted Sect....
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....ion 5A (W.E.F.1.4.2008)of Gujarat Value Added Tax Act, 2003, sale to Developer or Co-developer of SEZ shall be considered as "Zero rated Sales" As i understood, from 1.4.2008 and onwards Developers/Co....
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....-developers can procure the material for their authorised operation without payment of GVAT. Confirm the view. Reply By D Gupta: The Reply: You need to contact local consultant. Reply By V Ramanujam:....
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.... The Reply: As rightly pointed out by you, from 1.4.08, sale to developer/co-developer of SEZ is zero rated. i.e. dealers selling goods to developer/co-developer need not charge VAT for their sale, bu....
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....t they can avail input tax credit in respect of goods/inputs involved in manufacture of goods sold. However there are certain restrictions with regard to nature of asset (for eg vehicle not eligible) ....
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....and nature of dealers eligible (composition dealer not liable) for effecting the zero rate sale.<br> Discussion Forum - Knowledge Sharing ....