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[Cites 0, Cited by 0] [Section 25AA(2)] [Section 25AA] [Entire Act]

State of Kerala - Subsection

Section 25AA(2)(a) in The Kerala Value Added Tax Act, 2003

(a)with respect to unaccounted purchases from registered dealers within the State by dealers, notwithstanding anything contained in this Act, input tax credit shall be granted on such purchases, provided the dealer admits such purchases. In such cases, assessment shall be completed by adding 20 percent gross profit on the purchase value.