We have purchased the testing equipment in the year Dec 2013 from out side state with 2 % cst.
Now i want to sell the same within karnatak state .whether i have charge 5.5 % vat of 14.5 vat (karnataka state)
Mohan (CEO) (31 Points)
04 April 2016We have purchased the testing equipment in the year Dec 2013 from out side state with 2 % cst.
Now i want to sell the same within karnatak state .whether i have charge 5.5 % vat of 14.5 vat (karnataka state)
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 04 April 2016
It depends on what category the item falls in as per KVAT Act. If it falls under capital goods or other goods under 3rd schedule, then 5.5% is leviable. See the schedule for more details: https://ctax.kar.nic.in/acts/kvat/KVAT_ACT_2003_ENGLISH.pdf
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