Karntaka vat-cot 120
This query is : Open
16 September 2013
in Karnataka vat a restourent can opt for composition scheme. there is section 5(1) where 52 item exempt from tax. purchase and sell both. no where written that vat dealer have to pay tax on these item if dealer opt for compostion scheme. and 52 item exempt for both compostion dealer and regular dealer.
this right ?
reply soon
this right ?
reply soon
16 September 2013
What you sell in restaurant is food and drinks.These are not included in the Fifth schedule(sec 5(1)),and therefore chargeable with tax. But, under the Act u/s 15(1)(c) and a corresponding notification 4% COT is payable as an alternative option.....mjk
16 September 2013
We have to pay tax on vegetable also. Wr purchse from urd
16 September 2013
We are paying 4 % tax. On sales. We also have to pay 4 % tax on purchase of rice vegitable ? Thease are urd taxable at 0 %.
16 September 2013
We are paying 4 % tax. On sales. We also have to pay 4 % tax on purchase of rice vegitable ? Thease are urd taxable at 0 %.
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