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Discussion > VAT > Others >

Purchases from unregistered dealer

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Articled Assistant


[ Scorecard : 24]
Posted On 08 August 2013 at 11:30 Report Abuse

 

Sir,

 

I have purchases from both registered and unregistered dealers. I have to pay purchase tax on purchases from unregistered dealer. Can I setoff  the input credit of registered dealer purchases with purchase tax?

 

I mean to say that, If I have to pay Rs.100 as purchase tax and I have input credit of Rs.500 from purchases that I have made from registered dealers, can I setoff this and carry forward Rs.400 as input credit for next month????

 

Kindly reply as soon as possible.

 

Thanks

 

 


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CA vinod
Chartered Accountant


[ Scorecard : 510]
Posted On 08 August 2013 at 11:51

If you purchase any material from unregister dealer you have to pay purchase tax, and at the same time you can take input credit of URD purchases. For example if you purchase material of Rs. 10000 /- from unregister dealer you need to pay purchase tax of say Rs. 500 /-, and you can take this Rs. 500 /- as input credit. But input credit on URD purchases is available in the month/quarter of consumption.





subramanya
Professional


[ Scorecard : 852]
Posted On 09 August 2013 at 12:38

Originally posted by : CA vinod

If you purchase any material from unregister dealer you have to pay purchase tax, and at the same time you can take input credit of URD purchases. For example if you purchase material of Rs. 10000 /- from unregister dealer you need to pay purchase tax of say Rs. 500 /-, and you can take this Rs. 500 /- as input credit. But input credit on URD purchases is available in the month/quarter of consumption.

I agree with Vinod sir...

As VAT is state specific, i request Kamakshi Lahari to specify the state while raising queries related to VAT.

Subramanya 



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