Festive Savings Are Here. Get 10% OFF on All CCI Pro Plans. Subscribe Now!

Karnataka vat 100

Save Share

This query is : Resolved

raju (Querist)

09 March 2013 we have purchased inter state fixed asset for cst 2%
which column we have to show in vat 100 in purchases

and fixed assest purchased without c form
which column we have to show in vat 100 in purchases

and local purchases of fixed assets
which column we have to show in vat 100 in purchases

MJ Krishnamurthy

MJ Krishnamurthy (Expert)

10 March 2013 Mr Raju,
There is col 9 in VAT 100 form. Under this column space is provided to mention purchases made by paying VAT at various rates like 1%,2%,4%,5%,5.5% 13.5%,14% and 14.5%.Put your purchases of fixed assets also along with other purchases as per the rate VAT paid in the purchase bills.The sytem will automatically calculate the input tax paid in each category. In the same group enter interstate purchases in 9.8.1for with 'C' form and 9,8,2 for without 'C' form.If the purhase of assets are listed in the govt notification for claiming ITC then nothing to be done.If you are buying assets which are not allowed for ITC(input tax credit) then mention vat paid on them under the head 10.5 (ineligible ITC).....MJK

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now