12 December 2011
DEAR EXPERTS OUR CO., HAS PETROL BUNK PURCHASE PRODUCTS FROM LOCAL CAN WE SHOW THE PURCHASES IN ENTRY TAX. PETROLEUM PRODUCTS ARE EXEMPTED SALES AND PURCHASE ALSO EXEMPETION IF IT IS RIGHT WHY WE ARE SHOWING THE PURCHASE IN ENTRY TAX PLS GIVE DETAILS ABOUT THIS PLS URGENT
13 December 2011
Mr. Author, Petroleum products are liable for entry tax if directly purchased from outside the state. If purchaed locally, you need not pay any entry tax because it will be paid by the respective oil companies. This is under KTEG Act 1979. Exemption on petroleum products is under KVAT Act 2003. MJK