Vat for reseller

geeta (Querist) 26 December 2011 This query is : Resolved
Regarding availing input on goods specified Schedule V of the Act,

The VAT act was introduced to prevent levying tax on tax, however Schedule V of the Act provides on certain items, like, Motor Vehicles and its parts, Articles of food and drink, Textiles, Furniture, etc.

By refering to the VAT act, there is no specific provisions which exempts the reseller or purchases for manufacturing/further processing from the provisions of the Schedule V.

Logically, it looks like these provisions may not be applicable to reseller / manufacturers, but I want to know whether there is any provision/rule/notification/circular, which exempts the applicability of Schedule V of the Act to reseller / manufacturers.

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