Monday, February 20, 2012

HOW DO I IDENTIFY GOODS WHICH ARE NOT LIABLE TO VAT OR GOODS TAXABLE AT DIFFERENT RATES ? ( https://www.apct.gov.in/)

HOW DO I IDENTIFY GOODS WHICH ARE NOT LIABLE TO VAT OR GOODS TAXABLE AT DIFFERENT RATES ?
You must identify such goods from your purchase invoices and ensure that they can be probably accounted for at the appropriate VAT rate or exemption when the goods are sold. You can either provide a list of goods liable at different rates with a note of the appropriate rate at the cash point or colour code the goods to identify the VAT rate to the cashier or use the bar coding on your cash register machine, or use any other method you choose.

1 comments:

  1. Self-rating is when you independently check the Control Lists and determine the correct entry for your goods yourself. If you can self-rate you are recommended to do so. As a responsible exporter of dual-use or military goods, you are expected to have an understanding of the Control List status of your goods. Making your own informed checks is good practice, will potentially save you time and will help you when applying or registering for the appropriate licences.

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