Treatment of vat
This query is : Resolved
29 March 2012
Dear Sir,
We deal in Coated Textile Fabric(Rexines). Earlier this item was exempted from tax throughout India.
Now different states have placed different rates of VAT tax on it.
I purchase the material from uttarakhand. It is taxable in that state @5%. But is exempted in Karnataka, where i'm located and sell the material.
Please inform what should i do. Do i need to start charging vat at time of sale. if yes at what rate, 5% or 14%
We deal in Coated Textile Fabric(Rexines). Earlier this item was exempted from tax throughout India.
Now different states have placed different rates of VAT tax on it.
I purchase the material from uttarakhand. It is taxable in that state @5%. But is exempted in Karnataka, where i'm located and sell the material.
Please inform what should i do. Do i need to start charging vat at time of sale. if yes at what rate, 5% or 14%
02 April 2012
In the state of Karnataka goods are exempted and sale is from karnataka therefore you will not be liable to pay tax therefore can not charge tax in Bill.
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