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)
2 Replies
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
Recent Topics
- GSTR-9 Invoices
- Agricultural Business Loss
- Reporting in gstr9 of ITC of Previous year reverse
- Tax on Reimbursement of House Rent
- MAHARASHTRA CHARITY COMMISSIONER WEBSITE
- Explanation 3 to section 11(1) read with section 4
- Ammendment in Partnership On Death of Partner and
- TDS Provisions applicability Tax Audit Individual
- NAME CHANGE OF HUF
- Advisory for Reporting TDS Deducted by scrap Deale
Related Threads
CAclubindia
