Purchase interstate without c form
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 April 2013
I have purchase inteerstate without C Form & he Charge higher rate, Can I Take input of that Higher rate
29 April 2013
no you can't, input of only local purchase can be taken.
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 April 2013
but i am purchase on higher rate with interstate purchase
29 April 2013
yes i hv read that in ur query, higher rate is charged because u dint provide form c to seller, but still vat credit not allowed.
reason: if u purchase local item, vat on purchase goes in local govt's pocket thats y they provide credit, but when u purchased interstate, vat on purchase went to that state govt's pocket and that govt will not give you credit because u will not ultimately pay tax to that govt., cz u will pay sale tax to your local govt.
reason: if u purchase local item, vat on purchase goes in local govt's pocket thats y they provide credit, but when u purchased interstate, vat on purchase went to that state govt's pocket and that govt will not give you credit because u will not ultimately pay tax to that govt., cz u will pay sale tax to your local govt.
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