27 May 2009
With respect to : Karnataka Value Added Tax
Whether tax payable on purchases made from unregistered dealers can be set-off from input vat credit. Requesting you to please expalin legal basis(section/rule also)
27 May 2009
First tax is payable on URD purchase Sec 3(2). After the same is used in the manufacture of taxable goods oir sodl then the credit/ deduction for the same is allowed.
CAclubindia
