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Querist : Anonymous

Querist : Anonymous (Querist)

19 January 2010 Mr. Ramu is a dealer. He is purchasing goods from interstate and the same he sold as Local sales and local purchase also made during the month.

Que 1 : Is this possible to adjust Local Purchase Tax amount against Local Sales Tax Amount(Which is purchased from Outside the state)?

Que 2 : If it possible. I need the provision given by ACT.

Rahul Vora

Rahul Vora (Expert)

19 January 2010 It is possible to adjust Local Purchase Tax amount against Local Sales Tax amount (which is purchased from outside the state) There need not be a one to one co-relation between VAT credit availed and utilised.
Let me know for which state do you want the provision given in the Act.

Querist : Anonymous

Querist : Anonymous (Querist)

25 January 2010 Thanks you sir.

And I need provision for TNVAT Act.

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