Thursday, 9 April 2015

VAT collected from buyer is includible in taxable turnover of assessee if VAT isn't shown separately

CST & VAT: Karnataka VAT - Where assessee sold goods and tax invoice issued to purchasing dealer showed price of goods inclusive of all taxes and it did not contain details such as rate and amount of tax charged, assessee was not entitled to deduction of tax amount as contemplated under rule 3(2)(h) of VAT Rules


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