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Value Added Tax Act, 2003 Section 10

Title: Output Tax, Input Tax and Net Tax

State: Karnataka

Year: 2003

.....of output tax payable by him in that period less the input tax deductible by him as may be prescribed in that period and shall be accounted for in accordance with the provisions of Chapter V. (4) For the purpose of calculating the amount of net tax to be paid or refunded, no deduction for input tax shall be made unless a tax invoice, debit note or credit note, in relation to a sale, has been issued in accordance with Section 29 or Section 30 and is with the registered dealer taking the deduction at the time any return in respect of the sale is furnished, except such tax paid under sub-section (2) of Section 3. (5) Subject to input tax restrictions specified in Sections 11,12, 14, 17, 18 and 19, where under sub-section (3) the input tax deductible by a dealer exceeds the output tax payable by him, the excess amount shall be adjusted or refunded together with interest, as may be prescribed.

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Karnataka Value Added Tax Act, 2003 Section 10

Title: Output Tax, Input Tax and Net Tax

State: Karnataka

Year: 2003

.....period and shall be accounted for in accordance with the provisions of 2[Under this Act] (4) For the purpose of calculating the amount of net tax to be paid or refunded, no deduction for input tax shall be made unless a tax invoice, debit note or credit note, in relation to a sale, has been issued in accordance with Section 29 or Section 30 and is with the registered dealer taking the deduction at the time any return in respect of the sale is furnished, except such tax paid under sub-section (2) of Section 3. (5) Subject to input tax restrictions specified in Sections 11,12, 14, 17, 18 and 19, where under sub-section (3) the input tax deductible by a dealer exceeds the output tax payable by him, the excess amount shall be adjusted or refunded together with interest, as may be prescribed. _____________________________ 1. Substituted for the figures ,comma and word "17, 18 and 19" by Karnataka Value Added Tax (Amendment) Act, 2005. 2. Substituted by Act 10 of 2008. "Chapter V."

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Karnataka Value Added Tax Act, 2003 Section 11

Title: Input Tax Restrictions

State: Karnataka

Year: 2003

.....the Fifth Schedule subject to such conditions as may be specified, purchased and put to use for purposes other than for, (i) resale, or (ii) manufacture or any other process of other goods for sale; (3) tax paid on purchase of goods as may be notified by the Government or Commissioner subject to such conditions as may be specified; (4) tax paid on purchase of capital goods other than those falling under clause (2) or (3) except as provided in section 12; (5) tax paid on purchase of goods, that are despatched outside the State or used as inputs in the manufacture, processing or packing of other taxable goods despatched to a place outside the State, other than as a direct result of sale or purchase in the course of inter-State trade or commerce except as provided in section 14.] (6) tax paid on purchases attributable to naptha, liquified petroleum gas, furnace oil, 4[***] superior kerosene oil, kerosene and any other petroleumproduct, when used as fuel in motor vehicles, but when used as fuel inproduction of any goods for sale in the course of export out of the territory ofIndia or taxable goods or captive power, input tax shall be deducted as providedin Section 14. .....

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Karnataka Value Added Tax Act, 2003 Section 19

Title: Change or Tax Payment Scheme After Deduction of Input Tax

State: Karnataka

Year: 2003

.....change of use. 2[(3) Where a registered dealer after deducting input tax on any goods used in the course of his business, opts for composition of tax under section 15, the input tax deducted on the goods held in stock on the date on which the dealer so opts shall be repayable by the dealer in the tax period following such date and the input tax so repayable shall be calculated on the market value of such goods on such date.] __________________________ 1. Shall be and shall always be deemed to have been substituted by Act 6 of 2007 w.e.f. 11.03.2005. "tax shall be calculated" 2. Inserted by the Karnataka Value Added Tax (Amendment) Act, 2009 Act 32 of 2004.

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Value Added Tax Act, 2003 Section 11

Title: Input Tax Restrictions

State: Karnataka

Year: 2003

.....goods other than those falling under clause (3), except as provided in Section 12; (5) tax paid on purchase of goods used as inputs in the manufacture, processing or packing of other taxable goods despatched to a place outside the State not as a direct result of sale or purchase in the course of inter-State trade, except as provided in Section 14; (6) tax paid on purchases attributable to naptha, liquified petroleum gas, furnace oil, light diesel oil, superior kerosene oil, kerosene and any other petroleum product, when used as fuel in motor vehicles, but when used as fuel in production of any goods for sale in the course of export out of the territory of India or taxable goods or captive power, input tax shall be deducted as provided in Section 14. (7) tax paid under sub-section (2) of Section 3 on the purchase of fuel; (8) tax paid under sub-section (2) of Section 3 on the purchase of goods excluding fuel, until output tax is payable on such goods or other goods in which such goods are put to use except when the said goods are exported out of the territory of India; (9) tax paid on goods purchased by a dealer who is required to be registered under the Act, but has.....

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Value Added Tax Act, 2003 Section 12

Title: Deduction of Input Tax in Respect of Capital Goods

State: Karnataka

Year: 2003

(1) Deduction of input tax shall be allowed to the registered dealer in respect of the purchase of capital goods for use in the business of sale of any goods in the course of export out of the territory of India and in the case of any other dealer in respect of the purchase of capital goods wholly or partly for use in the business of taxable goods. (2) Deduction of input tax under this Section shall be allowed only after commencement of commercial production, or sale of taxable goods or sale of any goods in the course of export out of the territory of the India by the registered dealer and shall be apportioned over a specified period, as may be prescribed.

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Value Added Tax Act, 2003 Section 19

Title: Change in Use After Deduction of Input Tax

State: Karnataka

Year: 2003

(1) Where a registered dealer has deducted input tax on any goods and those goods are not used in the course of his business or lost or destroyed, any input tax deducted becomes repayable in the period following the date on which those goods were put to such other use. (2) Where such goods have been wholly or mainly used or are intended for use in sale of taxable goods or in sale of any goods in the course of export out of the territory of India prior to the change of use, tax shall be calculated on the prevailing market value of such goods at the time of change of use.

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Karnataka Value Added Tax Act, 2003 Section 12

Title: Deduction of Input Tax in Respect of Capital Goods

State: Karnataka

Year: 2003

(1) Deduction of input tax shall be allowed to the registered dealer in respect of the purchase of capital goods 1[on or after the commencement of this Act ]for use in the business of sale of any goods in the course of export out of the territory of India and in the case of any other dealer in respect of the purchase of capital goods wholly or partly for use in the business of taxable goods. (2) Deduction of input tax under this Section shall be allowed only after commencement of commercial production, or sale of taxable goods or sale of any goods in the course of export out of the territory of the India by the registered dealer 2[***] _______________________ 1. Inserted by Karnataka Value Added Tax (Amendment) Act, 2005. 2. Omitted by Act 4 of 2006 w.e.f. 01.04.2006. "and shall be apportioned over a specified period, as may be prescribed."

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Karnataka Value Added Tax Act, 2003 Chapter II

Title: Incidence and Levy of Tax

State: Karnataka

Year: 2003

.....of other goods] and (iii) Fourth Schedule, at the rate of twenty per cent. 6[(b) in respect of,- (i) cigarettes, cigars, gutkha and other manufactured tobacco at the rate of fifteen per cent; (ii) other goods at the rate of thirteen and one half per cent] 2[(c) in respect of transfer of property in goods (whether as goods or in some other form) involved in the execution of works contract specified in column (2) of the Sixth Schedule, subject to sections 14 and 15 of the Central Sales Tax Act, 1956(Central Act 74 of 1956), at the rates specified in the corresponding entries in column (3) of the said Schedule.]2 (2) Where goods sold or purchased are contained in containers or are packed in any packing material liable to tax under this Act, the rate of tax applicable to taxable turnover of such containers or packing materials shall, whether the price of the containers or packing materials is charged for separately or not, be the same as the rate of tax applicable to such goods so contained or packed, and where such goods sold or purchased are exempt from tax under this Act, the containers or packing materials shall also be exempt. (3) The State Government may, by.....

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Value Added Tax Act, 2003 Chapter 2

Title: The Incidence and Levy of Tax

State: Karnataka

Year: 2003

.....goods other than those falling under clause (3), except as provided in Section 12; (5) tax paid on purchase of goods used as inputs in the manufacture, processing or packing of other taxable goods despatched to a place outside the State not as a direct result of sale or purchase in the course of inter-State trade, except as provided in Section 14; (6) tax paid on purchases attributable to naptha, liquified petroleum gas, furnace oil, light diesel oil, superior kerosene oil, kerosene and any other petroleum product, when used as fuel in motor vehicles, but when used as fuel in production of any goods for sale in the course of export out of the territory of India or taxable goods or captive power, input tax shall be deducted as provided in Section 14. (7) tax paid under sub-section (2) of Section 3 on the purchase of fuel; (8) tax paid under sub-section (2) of Section 3 on the purchase of goods excluding fuel, until output tax is payable on such goods or other goods in which such goods are put to use except when the said goods are exported out of the territory of India; (9) tax paid on goods purchased by a dealer who is required to be registered under the Act, but has.....

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