one of my friend is giving hitachi and tippers on rental/hire basis . what is the vat tax implications under vat act. He is registered under VAT Act. if vatable then what are the allowable deductions.
16 March 2013
Transfer of rights to use goods is sale as defined under the Karnataka VAT law. Hence the transaction is no doubt VATABLE.. as to allowable deduction , please refer rule 3(2).
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