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Goods/ sales tax / vat
Planning to procure fancy bangles (Non precious) from Delhi to Bangalore for a shop. Understandably the item falls under the schedule 1 of DVAT and KVAT. Now the issue is the traders in Delhi do not provide a 'pucca' sale receipt. So will it be a problem to procure, to carry and to further sell it here in Karnataka? What are the regulations I need to take into account? Please guide..
Replies (3)
Naturally, without pukka bill and CST paid the goods cannot be transported to Karnataka from Delhi. The problem would be with small local dealers. Search some big traders who would be regularly exporting it to other states. Its not that difficult.
Thank you so much for the reply sir. Also if you could please tell me, will there be any tax liability on selling this product in Karnataka, since it falls under schedule 1 of VAT? If yes, how much?
Dear Abhishek,
As per Karnataka VAT Act, ::[FIRST SCHEDULE (Goods exempted from tax under sub-section (1) of section 5)
9. Bangles of all materials excluding precious metals.
No VAT liability.
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