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Input vat credit

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(Querist)
11 October 2011
Dear Expert,

We are in retail business activity,

Vendor is collected the tax @ 12.5% of some products from our side but as per the vat act the actual rate is 5% and we are sales the products with 5%.

So the above case, can we take the full credit or only 5% is allowable
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CA SUMiT PATWARi

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CA SUMiT PATWARi (Expert)
11 October 2011 Which state does your business belong to ?

The Vat rules vary from state to state!
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nilesh

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nilesh (Querist)
11 October 2011
now we are in following state

Maharashtra
Karnataka
Tamil Nadu
Gujarat




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