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Urd purchases

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15 January 2012 Hii Can Any one tell me how to treat URD Purchases in KVAT Act
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jagadish hiremath

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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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