Change COT to VAT in Karnataka

This query is : Resolved 
 


Querist : Anonymous (Querist) 11 August 2010

hi,
One my client is doing works contracts and paying the tax under composition tax scheme in karnataka. Now wants to change COT to VAT for use the benifit of input taxs. My concern is he can change the from COT to VAT and if so when he can go for that.



CMA Ramesh Krishnan (Expert) 13 August 2010

Accoriding to my update, Once you opted the COT scheme, cannot change for 3 years, but you can check with your LVO

A. Sankaranarayana (Expert) 24 August 2010

Any dealer can change from COT to VAT or vice versa.

Cut of date is ending of the Month.

For changing - u need to file a Form 1 - just like new registration

CMA Ramesh Krishnan (Expert) 24 August 2010

Thanks for Update Mr.Sankaranarayana, if you provide the related provision link very useful to me also



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