Pls. clarify
One of our client is a Branch of Bangalore having H.O. at calculatta & other branches all over India, who are traders in Computers, Accessories etc.
Under KVAT they will buy goods @ 4% and part of the stock will be sold in Karnataka @ 4% VAT & part of the stock will be sent to H.O. or other branches as stock transfer against Form-F.
1. Whether they are eligible for taking input credit on purchases fully and pay output taxes on local sales.
2. If so pls. give the relevant section & rule details.
CAclubindia
