Karnataka Value
Added Tax Act, 2003 r/w Rule 128 of Karnataka Value
Added Tax Rules, 2005 for the tax periods April, 2014 to
March ... Karnataka Value
Added Tax Act, 2003 r/w Rule 128 of Karnataka Value
Added Tax Rules, 2005 for the tax periods April 2013 to
March
tax, Input tax and Net tax', which reads as under:-
(1) Output tax in relation to any registered
dealer means the tax payable under ... should be liable to tax under the Act. If no
output tax is payable, then the question of deducting input
tax in order to calculate
tax and net tax, virtually provides the
manner of determination of tax liability under the Act.
Section 10 reads as under:
10. Output tax, input ... respect of his tax liability and
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therefore, tax liability is described as net tax i.e. output
tax minus input tax and registered dealer
December, 2005. The assessee claimed input tax
deduction and filed VAT-100 for all the tax periods on
the local purchases of raw-materials, consumables ... Output tax, input tax and net tax
(1) Output tax in relation to any
registered dealer means the tax payable under
this Act in respect
Output tax, input tax and net tax:
(1) Output tax in relation to any registered
dealer means the tax payable under this Act in
respect ... provides that the
net tax payable shall be the amount of output tax payable
less the input tax deductible shall be accounted for in
accordance
reads thus:-
"10. Output tax, input tax and net
tax:
(1) xxxxxxx
(2) Subject to input tax restrictions specified
in Sections ... goods purchased during the period
immediately preceding five tax periods
of such tax period, if input tax of such
- 10 -
goods is not claimed
appellants submitted that
input was received by the Department that Green Finch is a
non-existing company and huge input tax credit is being
credited ... fifteen per cent. of such tax on the
basis of his own ascertainment of such tax or
the tax as ascertained by the proper officer
tax, input
tax and net tax. During the relevant tax period it reads as
under: -
"10. Output tax, input tax and net tax ... tax payable by a registered dealer in
respect of each tax period in arriving at tax liability the
amount of output tax payable
been regularly paying tax as per
the returns. The petitioner has paid the tax for the
assessed period based on VAT 100 returns with ... input tax rebate. Section 70(1) reads as under:
"For the purposes of payment or
assessment of tax or any claim to input tax
tax credit over
the output tax payable for a particular tax period was also
eligible to be adjusted or carried forward to the succeeding tax ... input tax' would be more than the
tax payable on lease rentals as 'output tax'. In the result, the
net tax would
