TaxTMI 
TaxTMI 
tax payment and validity of transaction
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....ax payment and validity of transaction<br> Query (Issue) Started By: - anish shah Dated:- 25-4-2014 Last Reply Date:- 26-4-2014 VAT + CST<br>Got 2 Replies<br>VAT / Sales Tax<br>dear sir, we are base....
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....d out of gujarat having VAT registration for gujarat region only and also having CST registeration. i have done recent transaction buying mtrl .from Maharashtra and also sold in Maharastra without b....
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....ringing the material to gujarat., i am not having VAT registration in Maharastra. is this valid transaction ?? if yes what taxes will come in picture in both buying and selling. can i show Nil taxes ....
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....in my sales bill . Reply By CA. Surender Gupta: The Reply: As per my limited knowledge of VAT laws, no state can levy sales tax / VAT on transaction not occurred to related to the the concerned stat....
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....e. In your example, as a layman, I would say the transaction is not taxable in Gujarat at all. But, what the document / proof you have to prove the same? Was it a cash purchase, or delivery to a plac....
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....e located within Maharashtra etc. etc. which you may need to answer to address the issues that may arise for determination of the nature of transaction. Reply By vasanthi siva: The Reply: Dear Sir, ....
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.... We are doing exempted sales (CT3 forms) labour sales and local vat sales (5 percent ) and Interstate (cst 2 percent ) sales. can you please explain us how to calculate ITC and how to arrive reversal ....
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....of credit. Please explain us. Thanks vasanthi<br> Discussion Forum - Knowledge Sharing ....