Sole Selling Agent, VAT + CST

[Souvik Ghosh]

A Pvt Ltd Company wishes to appoint a sole selling agent for the whole of India and for all of its of products. My queries in this regard are:

1. Who is required to get VAT registration and file return, the co or the sole selling agent or both?
2. Can the Co opt for Composition scheme, if turnover is less than the specified limit?
3. When goods are transferred to the sole selling agent then What entry is to be passed?
4. At which price is the entry required to be passed ie whether at the price at which the agent will sell the products to the market or at Cost?
5. Please give reference of a company which has appointed a sole selling agent?
6. How is the invoicing to be done, both for Co and the Agent?

Any advice, presentation or useful link would be very useful.

Best regards,
Souvik Ghosh

Posts / Replies

[MARIAPPAN GOVINDARAJAN]

Your query is a detailed one. The Advices of Company Secretary in practice and tax consultant are highly required.