Clarification

Girish (Student) (67 Points)

17 December 2010  

Hi friends i have doubt on treatment of purchases from Unregistered Dealer (URD) according to Karnataka VAT 2003. 

One of our client has taken input tax credit at 12.5% on purchases from URD & same carried forward to next month as there is no sales in that month. Is this treatment is right? please help me out