Urd purchases
This query is : Resolved
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
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
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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