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Karnataka vat

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(Querist)
23 February 2013 Can someone enlighten me the current KVAT provisions pertaining to a Pharmaceutical wholesale dealer.?
Actutally while vouching i find two prices one being MRP and the other being the trade price wiz less than MRP price. so iam not clear with cocncept of vat calculation.
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MJ Krishnamurthy

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MJ Krishnamurthy (Expert)
02 March 2013 Mr Sumukh GB
It depends at what rate you are actually selling. You can select any of the two mentioned by you or your own wholesale price. You can also include tax(vat) in the price charged in the invoice.As per the KVAT Act,it is not mandatory to sell at any particular price only...MJK
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