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Karnataka VAT


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Querist : Anonymous

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Querist : Anonymous (Querist)
14 June 2011 Dear sir,
i am a manufacturer of medical equipments.most of the times i get the manufacture done from others and they Charge me VAT @ 14%. As per Karnataka VAT Act i am liable to VAT @ 5% on sales. Can i avail input tax credit 14% and set it off against my out put tax and pay the balance amount to the department.

14 June 2011 Vat input can be set off with Vat output.In your case you can also setoff your Vat credit with your Vat output.
Regards
Abhisek Tosniwal















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Querist : Anonymous

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Querist : Anonymous (Querist)
20 June 2011 Dear Abhishek,

whether the input tax 14% can be seting off against output of 5% allowed under Karnataka VAT Act?.




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