Input on local purchase
This query is : Resolved
dineshkadaba
(Querist)
13 April 2015
Dear Experts
Pls Clarify
The Registered dealer under Karnataka VAT Act., our product was exempted Under KVAT as per KHC Judgment and we filed our VAT-100 by claiming as exempted sales and not declared Local Purchase and not claimed Purchase Input. Because our product was exempted.
Now the Judgement is revered as exempted goods is taxable. Can we claim Input on local purchase(Which was not declared in VAT-100)
Pls Clarify
Pls Clarify
The Registered dealer under Karnataka VAT Act., our product was exempted Under KVAT as per KHC Judgment and we filed our VAT-100 by claiming as exempted sales and not declared Local Purchase and not claimed Purchase Input. Because our product was exempted.
Now the Judgement is revered as exempted goods is taxable. Can we claim Input on local purchase(Which was not declared in VAT-100)
Pls Clarify
13 April 2015
If the input is on materials procured for the sale of a taxable good, then you can take credit of it. Even if you have not shown it your Return, you may claim it. There's no bar in it. Since the error is not intentional, you can surely avail the credit.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Transfer of Physical Stock Between Two Proprietorship Concerns
- Issuing of delivery challan by seller of goods
- Taxation of crypto futures in India Fy 2026- 2027
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- MSME disclosure and disallowance
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
