Urd purchases

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vaseem akram (Querist)
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15 January 2012 Hii Can Any one tell me how to treat URD Purchases in KVAT Act basically we r purchases seconds Machineries From shut down mills and sells it to rice mill owners

vaseem akram

vaseem akram (Querist)
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16 January 2012 Dear Waseem,

For URD Purchase u have to pay tax first and you can claim input in the subsequent month or if is sold during month the entire input VAT can be claimed.

in sales column :

enter the URD purchases sold with tax rate

and in purchase column, enter the URD purchase in the column with tax amount

it calculates automatically in net tax column

regards

shiv

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