Karnataka vat -input vat credit related
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 July 2012
Sir
We are printig industry as per VAR Registration certificate we have to collect 5% out put tax
My quation is WE ARE PURCHASEING BOTH 14% AND 5% INPUT TAX MATERIALS. IN CASE OF 14% INPUT VAT PURCHASE CAN WE UTILISE FULL 14% INPUT TAX CREDIT AND BILL 5% OUT PUT TAX BILL(SALE BILL)
herle35@indiatimes.com
We are printig industry as per VAR Registration certificate we have to collect 5% out put tax
My quation is WE ARE PURCHASEING BOTH 14% AND 5% INPUT TAX MATERIALS. IN CASE OF 14% INPUT VAT PURCHASE CAN WE UTILISE FULL 14% INPUT TAX CREDIT AND BILL 5% OUT PUT TAX BILL(SALE BILL)
herle35@indiatimes.com
23 July 2012
THERE IS NO LIMITATION. VAT INPUT TAX OF 14% CAN BE SET OFF AND AVAILED IN PAYING 5% OUT PUT TAX PAYABLE ON YOUR SALE BILLS.
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