How to show self consumption of goods in karnataka vat Returns

VAT (Legacy) 481 views 1 replies

Hi, Dear CAClubindia Members, 

My query is how and in which Colum to (VAT 105 of Karnataka VAT online return) show purchase made and self-consumed  for example: Rs1000 Basic price and Rs.55 tax i.e 5.5% tax rate purchase made from METRO cash and Carry and self-consumed for personal use. Thanks in Advance !!!

Regards,

Pramod kumar

 

Replies (1)

If these commodities are purchased for the purpose of Resale or Manufacturing, However, self consumed

These Purchases should be shown in Box No. 9 Purchases

Also as you have self consumed ITC needs to be reversed in Box 10. Ineligible Input Tax Credit 10.6 Others

Request other members correct if above considerations are wrong.

with regards,

Subramanya


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