VERY IMPORTANT CHANGE IN VAT

CA ADITYA ZANTYE (BCOM CA CS PROFESSIONAL)   (325 Points)

26 April 2011  

 

guys yesterday i refered the new module for ay.2011-2012 of ipcc applicable for may 2011 exams for tax and i discovered that in stock transfer tax paid on inputs and purchases which is available as input tax credit afterretention of 4% of such tax by the state govt is changed to 2%.the institute has not mentioned this in supplementary material.so i thought to quote this info if anyone is unaware about this.........