Hi,
I want to know Karnataka Vat Liabilities in following cases:
Purchases Rs 1,000/-
Vat on Purchases @ 4% Rs 40/-
Trade Discount/Incentive/ Cash Discount/ Volume discount on purchases through separate credit Note Rs 50/-
Not vat Reversal by supplier in credit note
My sale Price Rs 975/-
Output Vat @ 4% Rs 39/-
Whether I can claim the refund of Re 1/-?
Vat on discount/credit note
Prasanna (Articled Assistant) (119 Points)
03 February 2012