Under Karnataka VAT Act proportionate input as per rule 131
This query is : Resolved
12 February 2010
Assesse is a 100% EOU having taxable sales,exempted sales and consignment sales to one of the client in USA and form I sales to SEZ in this case whether assesse can utilise the total input vat or proportionately as per rule 131?
13 February 2010
Total input can be utilsed for taxable sales and consignment sales.
If the expemted sales fall under schdule I ie tax rate itself is 0 then you have to claim proportinately.
If the item falls under taxable category and you are getting exemption because of exports or sez then you can utilise total input.
If the expemted sales fall under schdule I ie tax rate itself is 0 then you have to claim proportinately.
If the item falls under taxable category and you are getting exemption because of exports or sez then you can utilise total input.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Sale of property furniture sale
- RCM INVOICING FROM NOV-2024
- Tds on building rent monthly
- Darpan registration
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
Trending Online Classes
CAclubindia
