22 November 2008
SIR ,MY CLIENT HAVE LOCAL PURCHASE INPUT TAX CREDIT ,NOW HE IMPORT (HIGH SEA PURCHASE) ,THIS ABOVE GOODS SALE TO LOCAL SALES AND INTER STATE SALES AND TAX LIABLITY OF THIS SALES GOODS CAN BE SETOFF AGAINST INPUT TAX CREDIT OF LOCAL PURCHASE.
IMPORT PURCHASE GOODS TAX LIABILITY STATEMENT TAX LIABILITY OF LOCAL SALES = 4% TAX LIABILITY OF INTER STATE SALES = 2%(C FORM) ---- TOTAL 6% THE ABOVE TAX LIABILITY OF IMPORT GOODS CAN BE SET OFF OR NOT AGAINST LOCAL PURCHASE INPUT TAX CREDIT PLS PLS PLS PLS CLARIFY SIR