Applicability of vat on agriculture products
This query is : Resolved
12 August 2013
Dear all,
I have a client who is a tyre manufacturer.
Whether vat is applicable on his purchase of raw rubber sheets from an individual.
Thanking you in anticipation
I have a client who is a tyre manufacturer.
Whether vat is applicable on his purchase of raw rubber sheets from an individual.
Thanking you in anticipation
RENGARAJ R.K
(Expert)
14 August 2013
You have not mentioned your STATE. However, in your state VAT act,if rubber sheets are taxable, then the purchase tax is applicable for the URD purchases (purchased from individuals).
In many states, such purchase tax is eligible for set off adjustment against the output tax.
In many states, such purchase tax is eligible for set off adjustment against the output tax.
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