Entry tax
This query is : Resolved
08 November 2010
Under Karnataka VAT Act, Whether entry tax on capital equipment can be taken as input tax credit against my output tax liability on VAT.
09 November 2010
No the vat act of Karnataka, does not permit such adjustments.
This is basically to be borne by the purchaser in lieu of octroi.
This is a sort of Municipal levy, and is collected by Vat authorities.
The revenue is meant for Municipal corporation.
This is basically to be borne by the purchaser in lieu of octroi.
This is a sort of Municipal levy, and is collected by Vat authorities.
The revenue is meant for Municipal corporation.
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12 November 2010
You can't do like as per your request. generally there is no claim for capital goods purchase / sales.
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