MJ Krishnamurthy's Expert Profile

Queries Replied : 1703

About me

I am a retired Assistant Commisioner of Commercial Taxes of Karnataka. I retired in 1998 at the age of 58.During this service I tried to go in detail about sales tax laws. Immeadiately after retirement some companies wanted to retain me as their consultant. That is how my touch with the subject of VAT laws continued.The website of CAclub india is giving a good opportunity to share my knowledge with others. I am an exserviceman from IAF. So, Iam a little different from other taxmen. We should do some service to the community that has offered us so much, That is my purpose.....Bye.

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ANAND KUMAR OJHA says : regarding tax on cosumed material
Sir, Thank you very much.sir what will be the rate of tax for consumed material in madhya pradesh. Anand Kumar Ojha Thanks

Avinash says : SUBMISSION OF B.S. FY 2012-13 WITH DVAT
It seems to me that now the DVAT Department has not receiving the annual balance sheet for the FY 2012-13, as our turnover more than 20 Crore. They have advice to submit the balance with DVAT thru on-line, but i'm unable to where it is to be submitted. Please solve the my problem, Your early kind reply in this matter will be grateful. Thanks with Regards! Avinash Kumar

MJ Krishnamurthy says : VAT payment on apartment
Wheteher 1%,5% or 12.5%(full) depends upon the builder's option. You can not pay tax to govt directly. The dealer or the builder has to collect it from you ,by issuing an invoice,and pay to the govt through returns. You should know under which scheme the builder is filing his returns. As per such scheme,and making calculations by allowing deductions discussed by me,proper liability can be arrived....mjk

MJ Krishnamurthy says : VAT and CST payable.
See ITC ....Rs 500 O/P ....Rs 200 CSt receivable.....Rs 300 CST payable Rs250 Local O/P tax+CST receivabale= Rs200+300=ITCRs500. So nothing to pay to the govt.CST payable can not be counted in any way...mjk

Bijay Kumar Sharma says : karnataka vat calculation
Dear Sir my question is my ITC IS 500 OUT PUT TAX 200 CST RECEIVE ABLE 300 CST PAYABLE 250 HOW MUCH AMOUNT I WILL PAY FOR VAT & CST IN KARNATAKA?