Under Karnataka VAT Act proportionate input as per rule 131
This query is : Resolved
CA Sudheer
(Querist)
12 February 2010
Assesse is a 100% EOU having taxable sales,exempted sales and consignment sales to one of the client in USA and form I sales to SEZ in this case whether assesse can utilise the total input vat or proportionately as per rule 131?
CA. B.SRINIVASULU
(Expert)
13 February 2010
Total input can be utilsed for taxable sales and consignment sales.
If the expemted sales fall under schdule I ie tax rate itself is 0 then you have to claim proportinately.
If the item falls under taxable category and you are getting exemption because of exports or sez then you can utilise total input.
If the expemted sales fall under schdule I ie tax rate itself is 0 then you have to claim proportinately.
If the item falls under taxable category and you are getting exemption because of exports or sez then you can utilise total input.
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