Hi,
can anyone provide me with step to step way to convert sale tax registration from composition of Tax(COT) to value added tax(VAT) under karnataka value added tax act?
is the process online now?
Urgent.. please help
1 Replies
CA.SIDDALINGESHWAR
(Practice)
(29 Points)
Replied 06 December 2014
You have to amend VAT-1 for conversion from cot to vat on reaching of turnover of sales Rs.25,00,000/- and you will get input credit on stock held as on the date of turnover of Rs.25 lakhs subject to purchases made 3 months prior to date. and input vat on all subsequent purchases Read Rule 146
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