Subramanya
(Tax Consultant)
(523 Points)
Replied 11 September 2013
Hi Deepak,
As per the Karnataka VAT Act and Rules,
Dealer purchasing goods on which tax is charged by seller/s on MRP, Dealer opting to pay tax on MRP paying tax or claiming refund on the basis of out put tax and input tax has to submit the return using Form VAT 105. Where provision is provided to specify goods purchased/sold on MRP and on actual basis.
This info is extracted from the link https://sugam2.kar.nic.in/web_common/VATDownload/UM%20.100.crrected.pdf
With regards,
Subramanya
Deepak
(to be a chartered accountant)
(141 Points)
Replied 11 September 2013
CAclubindia
