Rate of Tax - Valuation - A bare perusal of the Section 4 ...

VAT and Sales Tax

February 28, 2023

Rate of Tax - Valuation - A bare perusal of the Section 4 (charging section) of KVAT Act and Rule 3 (computation provision) of KVAT Rules would clearly indicate that there is no prescribed mechanism provided for determining the value of individual goods in a composite transaction. Thus, in the absence of a valuation mechanism, tax cannot be levied differently on each of the component by separating a single composite package - HC

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Rate of Tax - Valuation - A bare perusal of the Section 4 ...

VAT and Sales Tax

February 28, 2023

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