vat credit allowance
This query is : Resolved
02 February 2011
if i make local purchase of raw material & send finished goods to our branch in other state . can i use vat credit in our sale tax return
03 February 2011
VAT is not applicable in case of branch transfer, so there is no question of taking the VAT credit.
03 February 2011
Yes u can take credit of VAT, but retention will be applicable. In Maharashtra u need to reduce ur credit by 2%.
03 February 2011
Yes, you can take VAT credit but have to apply special rebate scheme under section 14 of Karnataka VAT act, 2003 (i.e. in excess of 2% is allowed as VAT credit)
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