Shree vat ppt
Upcoming SlideShare
Loading in...5
×
 

Shree vat ppt

on

  • 1,329 views

 

Statistics

Views

Total Views
1,329
Views on SlideShare
1,329
Embed Views
0

Actions

Likes
0
Downloads
26
Comments
0

0 Embeds 0

No embeds

Accessibility

Categories

Upload Details

Uploaded via as Microsoft PowerPoint

Usage Rights

© All Rights Reserved

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Processing…
Post Comment
Edit your comment

    Shree vat ppt Shree vat ppt Presentation Transcript

    • PRESENETED BYSHREEDHRA V.K
    • introduction A value added tax (VAT) is a form of consumption tax. From the perspective of the buyer, it is a tax on the purchase price. From that of the seller, it is a tax only on the value added to a product, material, or service, from an accounting point of view, by this stage of its manufacture or distribution. The manufacturer remits to the government the difference between these two amounts, and retains the rest for themselves to offset the taxes they had previously paid on the inputs.
    • Meaning of small dealer A reseller, registered under the VAT Act and engaged in buying and selling goods within india, and having an annual turnover of sales not exceeding fifty lakh rupees in the preceding year will have an option to pay tax at the compounded rate of 0.25 %, on the entire turnover of sales. Dealers having gross sales not exceeding fifty lakh rupees in the year 2011-2012, can also opt for this scheme. However, dealers effecting inter-State sales or inter-State purchases are not eligible for this scheme
    • COMPOSITION SCHEME Small Dealer with annual gross turnover not exceeding Rs. 50Lakh who are otherwise liable to pay VAT, shall however have the option for a composition scheme with payment of tax at small percentage of gross turnover. The dealer option composition scheme will not be entitle to input credit.
    •  Under Vat simplified form of return are notified. Returns are to be filed monthly/quarterly as specified in the state acts/rules, and will be accompanied with the payment challans. Every return furnished by the dealer will be scruitnised expeditiously within prescribed time limit from the date of filling the return. If any technical mistake is detected on scrutiny, the dealer will be required to pay the deficit appropriately.
    • Dis adavantages
    • Case study 3d Concept Tooling No. 32, 1st Cross, Bashyam Nagar, Srirampuram,, Bangalore, 560021 91-80-23123439 91-80-23123439 Details : Contact Person: MR. RAVICHANDRAN Email: 3dconcept@vsnl.net Branch: Bangalore Functional Information Business Categories : Cnc Machines, Dies & Moulds, Others, Business Work : Exporters Of Enthive Components , Manufacturers Of High End Tools & Dies Dies & Moulds
    • Products High pressure die casting Low pressure die casting Sand core box Ready to fit inserts
    • Products - High Pressure DieCasting
    • HPDC Dies
    • Special tax rates for smallerdealers A reseller, registered under the VAT Act and engaged in buying and selling goods within india, and having an annual turnover of sales not exceeding fifty lakh rupees in the preceding year will have an option to pay tax at the compounded rate of 0.25 %, on the entire turnover of sales. Dealers having gross sales not exceeding fifty lakh rupees in the year 2011-2012, can also opt for this scheme. However, dealers effecting inter-State sales or inter-State purchases are not eligible for this scheme. Similarly, works contractors registered under the VAT Act will have an option to pay tax at a compounded rate of 2% on the entire contractual transfer price, irrespective of quantum of contractual transfer price. Once a dealer has exercised option for payment of tax at the compounded rate, it will be valid for one financial year. It may be mentioned here that the dealers opting for payment of tax at compounded rate are not entitled to input tax credit and can not issue tax invoices.
    • THANK YOU