What is urd

Save Share

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

26 June 2012 If I purchases from any Unreg. Deraler any Good than i have to still make a payment on VAT on that good & Still not able to get set off of this .

Murtaza I Bhagat

Murtaza I Bhagat (Expert)

26 June 2012 if you pay VAT on URD Purchase then you can take credit of Paid tax as input credit and sett off with output

Querist : Anonymous

Querist : Anonymous (Querist)

26 June 2012 if I not Paid on Pur. from URD it ok

which we use in any Product which is not lible to MVAT

Murtaza I Bhagat

Murtaza I Bhagat (Expert)

26 June 2012 if URD is exempt from tax then no need to pay VAT

Querist : Anonymous

Querist : Anonymous (Querist)

26 June 2012 BUT SIR, Which product We pur. is Liable for MVAT & Which Product which Proceduces from above Input is Exempt,

WE Pur. From one URD More than 5,00,000/- than Sir?

RENGARAJ R.K

RENGARAJ R.K (Expert)

26 June 2012 If the transaction value is above 5 lacs, the dealer is supposed to have a valid RC. As correctly clarified by Mr.Murtaza, any URD purchases is liable to be taxed at the hands of the registered buyer and he can set off (ITC).

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now