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[Cites 0, Cited by 0] [Section 12] [Entire Act]

State of Kerala - Subsection

Section 12(3) in Kerala Value Added Tax Rules, 2005

(3)Where in respect of goods taxable at the point of sale the selling dealer has not shown tax collection separately in the bills or, in respect of goods taxable at the point of first purchase in the state, where the dealer claiming input tax credit is not the first purchaser in the state, the amount of tax paid by the dealer to the sellers in respect of which input tax credit is allowable shall, subject to the provisions of sub-rule (6), be determined by applying the following formula:
a)9 PR10(100+R) In the case of goods to be of special importancein inter-state trade or commerce (Declared Goods) under section14 of the Central Sales Tax Act 1956.
b)85 PR100(100+R) In the case of other goods.
where P is the opening stock value of the goods and R is the rate of tax applicable to the goods, including additional sales tax, if any, under the Kerala General Sales Tax Act 1963, (15 of 1963 ) (in the case of goods falling under the Fifth Schedule to the Kerala General Sales Tax Act, 1963, (15 of 1963 ), shall be the rate of tax, including additional sales tax, if any, applicable on the first sale of the goods in the state)