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What is the creteria to issue Delivery note in Karnataka

Sathisha Kumar K.P. (Accounts Assistant) (24 Points)

04 January 2010

Hi Friends

1. What is the creteria to issue a Delivery Note (Form VAT 505 or 515) along with Tax Invoice or Bill of sale under Karnataka VAT Act.

2. How Can I get the latest list of Items covered under KVAT Act, to issue Delivery Note.

Help me ..... Plz.....

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subramanya (Professional) (907 Points)
Replied 08 February 2010

Originally posted by : Sathisha Kumar K.P.
	Hi Friends 1. What is the creteria to issue a Delivery Note (Form VAT 505 or 515) along with Tax Invoice or Bill of sale under Karnataka VAT Act. 2. How Can I get the latest list of Items covered under KVAT Act, to issue Delivery Note. Help me ..... Plz.....

Hi,

Karnataka VAT Rules :

157.(1) The document referred to in sub-section (2) of section 53 shall be,-

(a) a delivery note in Form VAT 505, issued by the owner or the consignor of goods, in respect of such goods as may be notified by the Commissioner and where the goods are carried as a result of sale, a tax invoice or a bill of sale;

Form VAT 505 is a Delivery note, which should accompanied with Sales Invoice, Consignment Note, Stock Transfer Memo, Self Purchase Bill and Labour/Job work voucher, etc.,

For Notified goods like Arecanut, Cadamom, Cashew, Coffee, Cotton, Edible oils, etc., it is compulsory that it should be accompanied with Form VAT 505 for the goods transported.

For all other goods, whenever it is crossing the revenue district during transportation of goods as a result of Sales, Consignment/ Stock Transfer, for Job Work, etc., it should be accompanied with Form VAT 505.

A delivery note in VAT 505 needs to be issued for After Sales, After Purchase, To his principal, For Sale on Consignment Basis, To his Shop/ Godown /Storage, For Jobwork, For Stock Transfers, Self Purchase Bill, etc.,

VAT 505 contains Source and Destination details, commodity details like Commodity Name, Quantity and Value, Transporter’s details like Vehicle No., LR No. etc., Supplier and Buyer TIN No, address, etc.,

Commercial tax dept of Karnataka recently issued a notification with regard to Form VAT 505, in which VAT 505 needs to be obtained electronically.

With regards,

Subramanya R

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