What is urd

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

26 June 2012 If I purchases from any Unreg. Deraler any Good than i have to still make a payment on VAT on that good & Still not able to get set off of this .

Murtaza I Bhagat

Murtaza I Bhagat (Expert)
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26 June 2012 if you pay VAT on URD Purchase then you can take credit of Paid tax as input credit and sett off with output

Querist : Anonymous

Querist : Anonymous (Querist)

26 June 2012 if I not Paid on Pur. from URD it ok

which we use in any Product which is not lible to MVAT

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Murtaza I Bhagat

Murtaza I Bhagat (Expert)
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26 June 2012 if URD is exempt from tax then no need to pay VAT

Querist : Anonymous

Querist : Anonymous (Querist)

26 June 2012 BUT SIR, Which product We pur. is Liable for MVAT & Which Product which Proceduces from above Input is Exempt,

WE Pur. From one URD More than 5,00,000/- than Sir?

RENGARAJ R.K

RENGARAJ R.K (Expert)
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26 June 2012 If the transaction value is above 5 lacs, the dealer is supposed to have a valid RC. As correctly clarified by Mr.Murtaza, any URD purchases is liable to be taxed at the hands of the registered buyer and he can set off (ITC).