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Karnataka vat -input vat credit related

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Querist : Anonymous

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Querist : Anonymous (Querist)
10 July 2012 Sir

We are printig industry as per VAR Registration certificate we have to collect 5% out put tax

My quation is WE ARE PURCHASEING BOTH 14% AND 5% INPUT TAX MATERIALS. IN CASE OF 14% INPUT VAT PURCHASE CAN WE UTILISE FULL 14% INPUT TAX CREDIT AND BILL 5% OUT PUT TAX BILL(SALE BILL)

herle35@indiatimes.com
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RENGARAJ R.K

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RENGARAJ R.K (Expert)
23 July 2012 THERE IS NO LIMITATION. VAT INPUT TAX OF 14% CAN BE SET OFF AND AVAILED IN PAYING 5% OUT PUT TAX PAYABLE ON YOUR SALE BILLS.
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