Interstate Purchase by a contractor
This query is : Resolved
30 October 2010
Sir,
A contractor has made Interstate purchase for Rs.1,00,000/- and paid CST @12.5% Rs.12,500/-, Freight Rs.2,000/-. My question is, whether he has to pay KVAT on Rs.1,12,500/- ie., Rs14,063/- or on Rs.1,00,000/- ie.Rs.12,500/-?
Please reply immediately.
Thanks in advance
A contractor has made Interstate purchase for Rs.1,00,000/- and paid CST @12.5% Rs.12,500/-, Freight Rs.2,000/-. My question is, whether he has to pay KVAT on Rs.1,12,500/- ie., Rs14,063/- or on Rs.1,00,000/- ie.Rs.12,500/-?
Please reply immediately.
Thanks in advance
30 October 2010
IF HE HAS PAID CST WHY HE PAID KVAT...CLEAR UR QUESTION
30 October 2010
Sir, he has compounded his work. As per Kerala Finance Bill 2009, Circular No.3/2009, if a contractor has opted for compounding and he made any Interstate purchase,then he has to pay KVAT on such purchase value.
Sorry, I forgot to specify about "compouding".
Sorry, I forgot to specify about "compouding".
01 November 2010
Please reply
01 November 2010
i have no idea......
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