Section 12(1) in Kerala Value Added Tax Rules, 2005
(1)Goods held as opening stock on the date of coming into force of the Act, in respect of which input tax credit is claimed by a dealer under sub-section (13) of section 11 shall be -(a)those which were taxable under the Kerala General Sales Tax Act,1963 (15 of 1963);(b)those purchased within one year preceding such date;(c)in the case of goods, other than those taxable at the point of first or last purchase as applicable under section 5 and those taxable under section 5A of the Kerala General Sales Tax Act, 1963 and those in respect of which tax under the Kerala Tax on Entry of Goods into Local Areas Act, 1994 (15 of 1994) is paid supported by bills issued by dealers registered under the Kerala General Sales Tax Act,1963 (15 of 1963);(d)in the case of goods taxable under the said Act either under section 5A or at the point of purchase, supported by sale bill issued by the seller or purchase bill or bought note, as the case may be, issued by the dealer claiming such input tax credit;(dd)in the case of goods in respect of which tax under the Kerala Tax on Entry of Goods into Local Areas Act, 1994 (15 of 1994) has been paid, supported by receipt issued by the appropriate authority for the payment of tax;(e)those which were taxable under the Kerala General Sales Tax Act, 1963 (15 of 1963) and are also taxable under the Act; and(f)physically available with the dealer on such date.Explanation. - For the purpose of sub-section (13) of section 11, -(a)goods in respect of which bill/invoice was issued by the selling dealer prior to 01.04.2004 shall not be deemed to have been purchased within one year preceding the date of coming into force of the Act even if the goods actually reached the buyer on or after such date; and(b)goods in respect of which bill/invoice was issued by the selling dealer prior to 01.04.2005 shall be deemed to have been physically available with the buyer on the day preceding the date of commencement of the Act, even though the goods actually reached the buyer on or after 01.04.2005.(c)Where the goods are supported by bills issued by a dealer registered under the Kerala General Sales Tax Act, 1963 (15 of 1963), the amount of tax computed under sub-rule (3) shall be deemed to have been shown separately in such bills for the purposes of sub-section (13) of section 11
