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01 / 04 / 2013 CIRCULAR No.3 / 2013 Sub - KVAT Act 2003 Digitally signed downloaded Form No.15 Delivery Note Instruction issued reg. Ref - Circular No.21/2012 25/2012 and 30/2012 In Para 454 of Budget Speech 2013-14 Hon ble Minister for Finance had announced that At present dealers can acquire delivery notes in Form No.15 either online or manually. No*C1-12107/2012/CT Office of the Commissioner of Commercial Taxes Tax Tower 8th Floor Karamana Thiruvananthapuram 695002 Dtd. Considering the...
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What is kvat?
Kvat stands for Karnataka Value Added Tax, which is a state-level tax imposed on the sale and purchase of goods in the state of Karnataka, India.
Who is required to file kvat?
Any person or business entity engaged in the sale or purchase of taxable goods exceeding the specified threshold turnover in Karnataka is required to file kvat.
How to fill out kvat?
To fill out kvat, one needs to register for the tax, maintain proper books of accounts, record all taxable transactions, compute the tax liability, and submit monthly or quarterly returns along with the necessary tax payment.
What is the purpose of kvat?
The purpose of kvat is to collect tax on the value added at each stage of the supply chain, ensure compliance with tax regulations, and generate revenue for the government.
What information must be reported on kvat?
Kvat requires reporting of information such as taxable turnover, taxable purchases, sales details, tax rates, input tax credit, and other relevant details as specified by the tax authorities.
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