02-11-2009, 08:57 PM
Can any one help me in the following scenario
Suppose i am a commercial importer. I pay the sales tax at the time of import and the difference which arises because of sale i pay upon receiving the payment. No income tax is deducted at source since my income tax is deducted at the time of import.
Now using the same company i wish to trade locally. I wish to buy goods along with sales tax invoice and sell charging sales tax. I believe that 3.5% on supplies will be deducted as income tax since i am not an importer.
Can anyone guide me whether i will have any problems in the above scenario?
Should i use separate companies for the above businesses?
What should i do before starting any of the above ventures.
Thanks in advance
Suppose i am a commercial importer. I pay the sales tax at the time of import and the difference which arises because of sale i pay upon receiving the payment. No income tax is deducted at source since my income tax is deducted at the time of import.
Now using the same company i wish to trade locally. I wish to buy goods along with sales tax invoice and sell charging sales tax. I believe that 3.5% on supplies will be deducted as income tax since i am not an importer.
Can anyone guide me whether i will have any problems in the above scenario?
Should i use separate companies for the above businesses?
What should i do before starting any of the above ventures.
Thanks in advance
