Hi everybody,
Am currently doing an audit for a distilleries company. They do not pay any entry tax on packing materials they purchase. They say packing materials are exempted from entry tax. I went through the KTEG Act in the commercial taxes website. The act says it is chargeable, but some books do not mention that. So am bit confused.Can anyone update me regarding any new notifications for the year 2008-2009, if so, can u pls send me the copy of the same.
Hi Barani,
There is no Entry Tax liability on entry of packing materials under Karnataka Tax on Entry of Goods Act, 1979 in the State of Karnataka. ET on packing materials was exigible vide Notification No.FD 23 CET 2001, dated 31.3.2001. Vide notification no.FD 11 CET 2002(II), dated 30.3.2002, the notification levying the ET was cancelled.
Hence, there is no ET on packing materials w.e.f. 1-4-2002.
Rgds/Dharmaraju
M N Rao & Associates LLP
Vijayawada
CA Inter
View Details
S.B.G. & CO. CHARTERED ACCOUNTANTS
New Delhi
CA Inter
View Details
CCI
Pro
CAclubindia
