Girish (Student) (67 Points)
17 December 2010Hi 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
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 17 December 2010
credit taken on unregistered purchase is wrong !!
CAclubindia
