Amc vat billing

Discussion in 'Mahavat' started by Sona, Mar 25, 2014.

  1. Sona

    Sona Member

    We are currently billing AMC to customers without charging any sales tax and the tax is paid from the company’s pocketincreasing the tax expenses. We would like to charge Vat on AMC Sales and passing the tax burden to the customer. I need expert advice on the following points wrt MVAt Act Type of option available for Computing tax for AMC Contract under which the vat to collected from customer separately. Rate of Tax to be charged Which kind of Invoice to be raised/Format Scheme to opted for – Composition/ Non-Composition Whether input tax credit can be availed Is there any requirement to communicate to the Vat office/Commisioner Any other related matter in respond to compliance with Tax Laws.

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