Cot
This query is : Resolved
12 March 2016
Hi ,
A person has a business whoose turn over is less than 25 lakhs so i opted him to go for cot registration but he buy products from other state so can he buy from other on cot registration
Plz do reply me
A person has a business whoose turn over is less than 25 lakhs so i opted him to go for cot registration but he buy products from other state so can he buy from other on cot registration
Plz do reply me
13 March 2016
A dealer who opted for COT (small dealers) are not allowed to buy from Other state. If they buy from Other State, then they have to pay the VAT @ the rates prevailing in the state and reduce the same from the sales turnover at the time of submitting the monthly / quarterly return.
The treatment is similar to URD purchases.
The treatment is similar to URD purchases.
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