Urd purchases
This query is : Resolved
vaseem akram
(Querist)
15 January 2012
Hii Can Any one tell me how to treat URD Purchases in KVAT Act
jagadish hiremath
(Expert)
16 January 2012
U have to pay output tax on every URD purchase @14% u/s3(2) and u can claim deduction as input tax in the month which such machineries are sold. U can refer Sec 3(2) and Section 11(a) (8) of the KVAT Act.
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