https://www.taxtmi.com/news?id=14536 Section 4(4) taxes a VAT dealer who purchases taxable goods when the seller is not liable to VAT, not the farmer selling agricultural produce. The scope excludes goods expressly exempt under the VAT Act. The term input is broad and the first proviso apportions tax where a common input yields multiple outputs by taxing the proportionate input value attributable to outputs within clauses (i)-(iii). Declared-goods limits constrain aggregate state imposts so purchase tax and subsequent VAT cannot together exceed the prescribed ceiling. en-us Tue, 26 May 2015 10:07:50 +0530 Tue, 26 May 2015 10:07:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=14536 Section 4(4) taxes a VAT dealer who purchases taxable goods when the seller is not liable to VAT, not the farmer selling agricultural produce. The scope excludes goods expressly exempt under the VAT Act. The term input is broad and the first proviso apportions tax where a common input yields multiple outputs by taxing the proportionate input value attributable to outputs within clauses (i)-(iii). Declared-goods limits constrain aggregate state imposts so purchase tax and subsequent VAT cannot together exceed the prescribed ceiling. News - Tue, 26 May 2015 10:07:50 +0530 https://www.taxtmi.com/news?id=14536