sales tax incentive in a notified area by the gujarat govern

Querist : Anonymous (Querist) 07 April 2011 This query is : Open
the assessee collects the sales tax (now vat)from its dealers in the ordinary course of business but retains the same as per the scheme of the government of gujarat.the said amount of vat collected is restricted to the amount of investmet made by the assessee in the fixed assets.after the amount of exemption limit the assessee shall be liable to pay the vat collected to the govt .the assessee also carries an obligation to invest the said exempted amount in the state within the next 10 years

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