01-08-2012, 02:26 AM
point no 2
Retailer pay turn over tax as per Sales tax special procedure 200. and not allowed input tax adjustment .
After Sro scenerio.
Retailer can claim input tax adjustment against the sale of goods involved in zero rate sector and not liable to pay turnover tax. However if he involved in other goods retail activity same rule apply mentioned above Turn over tax.
This is my understanding pls correct me if i am wrong.
Retailer pay turn over tax as per Sales tax special procedure 200. and not allowed input tax adjustment .
After Sro scenerio.
Retailer can claim input tax adjustment against the sale of goods involved in zero rate sector and not liable to pay turnover tax. However if he involved in other goods retail activity same rule apply mentioned above Turn over tax.
This is my understanding pls correct me if i am wrong.