TaxTMI 
TaxTMI 
TaxTMI 
Applicablity of vat on sale of scrap
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....pplicablity of vat on sale of scrap<br> Query (Issue) Started By: - Saurabh Singh Dated:- 5-10-2012 Last Reply Date:- 11-10-2012 VAT + CST<br>Got 4 Replies<br>VAT / Sales Tax<br>Dear Team I have one Parties who is not in the business of sale and purchase of scrap but they have vat no and they have sold some scrap to scrap vendor amounting to rs. 100000 are they liabile to pay vat on such sale R....
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....eply By Pradeep Khatri: The Reply: Yes, they are liable to collect the VAT at applicable rate and deposit it with VAT Department. Reply By Mahaganapathi V: The Reply: Sir your question is not clear. from the question it is understood that your client is not in the business of scrap purchase and sale? Then how they had the scrap to sell? Are they coming under manufacturer or job work provider t....
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....o other manufacturer. subject to minimum exeption limits as provided in excise and vat, If the over all turnover for the full year does not exceed the minimum turnover which is not taxable, then there is no need to collect vat as well as excise duty. Regards Reply By Mohammed Lakkadsha: The Reply: If your assessee is holding VAT registration and scrap sold is out of business sources he will be....
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.... liable to pay VAT on sales of scrap. Reply By Saroj Behera: The Reply: If your assessee is holding VAT registration no , so you have to collect Tax on selling of Taxable Goods , Though Scrap Sales is under Taxable Sales Catagories so u will liable to pay tax to the Govt on sales of Scrap.<br> Discussion Forum - Knowledge Sharing ....