Purchase tax

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Querist : Anonymous

Querist : Anonymous (Querist)

15 December 2014 CAN ANY ONE EXPLAIN WHAT IS PURCHASE TAX AND ON WHAT GOOD IT IS LIABLE TO BE PAID?

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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15 December 2014 means tax u pay on purchase...............

Querist : Anonymous

Querist : Anonymous (Querist)

15 December 2014 THANKS FOR REPLY
but i dont understand
as
in normal course of business we pay to the supplier price charged by him along with taxes.

what is significance of purchase tax then

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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15 December 2014 its like when u sale again u need to pay taxes so when u file return u can get the purchase tax already paid and can reduce your output tax