Vat

Guest (Querist) 16 June 2013 This query is : Resolved
sir,
i am starting a new retail business.being a retailer i will have to pay V.A.T to the government.
As most of the suppliers are unregistered and not issuing pakka bills with tin no but just on rough challans.
In this situations how and on what basis can i pay VAT?

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DILIP KUMAR AAGARWAL (Expert) 17 June 2013
Under the Vat Act you are paying output tax on the sale so your kacha bill will be your purchase. this bill are pacca for you so nothing to be worried.you ask the seller to give give on atleast on the letter head. this is previaling in west bengal

Raj Kumar Makkad (Expert) 17 June 2013
You are required to issue bills to your buyers irrespective of the fact that you purchased those items on kacha bills. Do maintain even those kachha bills for future requirement.

Guest (Querist) 20 June 2013
most of them do not have their names in the challan....its a simple ready bill book available in the market....will that be an issue in lucknow,uttar pradesh?

VARUN MAHAJAN (Expert) 23 June 2013
Mr Raj,

In Vat Act there are two types of dealer

VAT Dealer who have Vat Bills and they are elligible for inbput tax paid by them on the purchase.

second one is
T.O.T. turn over tax in this you need not to have any Pakka Bills but Kachha blls are valid to show that this is your purchase

In this you have to give 1% of the total Sales no matter what ever is your sale is.
But this will be applicable for a dealer purchasing within state.

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