Book description
How To Deal With Vat is a step-by-step book that introduces you to this new system of taxation, and shows you how to register for it, and how to calculate and pay it without tears! More than a hundred frequently asked questions on VAT are answered in this book and it ends with the text of the White Paper on VAT and the list of all Vatable goods.Table of contents
- Cover
- Title Page
- Contents
- Dedication
- Foreword
- VAT and Business Terms
- Preface
- 1. VAT’s Happened a Year Later?
- 2. VAT a Success!
-
3. VAT’s New?
- The Vat Net
- Bills/Cash Memos Compulsory
- Vat Found Worldwide
- Vat—Salient Features
- Calculating Vat
- Vat Versus Sales Tax
- Taxable And Exempt Supplies
- Input Tax And Output Tax
- Informing People
- What Is Vatable?
- Basic Vat Rates
- Uniform Rates
- Tax Payer’s Identification Number (Tin)
- Taxable Turnover
- Who Pays Vat?
- Vat Bill Or Invoice
- Credit Note
- Vat On Opening Stocks
- Filing Vat Returns
- For Small Businesses
- Vat Audit
- No Declaration Form
- Dealing With Tax Raids
- Business Particulars
- Vat Penalties And Fines
- Lot More Paperwork
- Simpler And Transparent
-
4. VAT’s the New Game?
- The Vat Chain
- Calculating Vat
- Goods Under Vat
- Taxable And Exempt Supplies
- No Vat On Exports
- Vat On Imports
- Vat On Services
- Incentives For Industrialists
- Other Taxes
- Compulsory Issue Of Tax Invoice, Cash Memo Or Bill
- Tax Invoice
- Credit Note
- Customer’s Pan Number
- Carrying Over Of Tax Credit
- Inputs From Other State(s)
- Vat On Capital Goods
- Vat On Stocks
- For Small Businesses
- Business Particulars
- Vat Documents
- Vat Penalties
- Vat Registration Certificate
-
5. Working with VAT
- Vat Returns
- Issuing Tax Bills And Invoices
- Simplified Tax Invoices
- Value For Tax
- How Vat Is Misused
- Vat Account
- Vat Accounting For Inter-State Supplies And Taxes
- Treating Vat In Books Of Account
- Capital Goods
- Unregistered Traders
- Loss Of Goods In Transit
- Vat On Trade
- Vat For Works Contracts
- Zero-Rating
- Supplies Made In Preparation Of Goods For Exports
- Zero-Rated Goods
- Input Tax Deduction Exclusions
-
6. Registering for VAT
- Business Registration Threshold
- Taxable Turnover
- Applying For Registration
- Registering For Vat
- Conditional Registration
- Compulsory Registration
- Registration Certificate (Rc)
- Group Registration
- Business Particulars For Vat
- Who Collects And Pays Vat?
- Defining A Manufacturer
- When Is Vat Payable?
- Collecting Vat
- De-Registration
- Sale Of Business As A Running Concern
- Vat On Closing Down A Business
- 7. VAT Returns Made Easy
- 8. Accounting for VAT
- 9. VAT or Very Apt Tax
-
10. Frequently Asked Questions
- Value Added Tax
- Vat Account
- Tax Invoices
- Tax Point
- Account Books And Records
- Input Tax
- Output Tax
- Input Tax Credit
- Vat Paid To Other Countries
- Zero-Rated/Exempt Goods Or Services
- Group Registration
- Registration For Head Office And Branches
- Registration
- Retailers And Wholesalers
- Export Of Goods
- Import Of Goods
- Foreign Embassies
- New Registration
- Credit Card Payments
- Sale Of Fixed Assets
- Advance Payments/Deposits
- Vat Inspection
- Works Contracts
- General Vat Applications
-
11. VAT Rules and Schedules
- Extracts From The Preface
- A White Paper On State-level Vat
- 1. Justification Of Vat And Background
- 2. Design Of State-level Vat
- 3. Steps Taken By The States
- 4. Related Issues
- List Of Vatable Goods
- First Schedule: Exempted Goods
- Second Schedule: Goods Taxed At One Per Cent
- Third Schedule: Goods Taxed At Four Per Cent
- Epilogue
- Acknowledgements
- Copyright
Product information
- Title: Working with VAT
- Author(s):
- Release date: June 2006
- Publisher(s): Pearson India
- ISBN: 9788131796894
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