The regulation on Value Added Tax (VAT) is evolving over the years and so is a subject of misunderstanding and misinterpretation. Any law that is new is often riddled with frequent amendments/notifications making it a puzzle to understand.

This book “How to Bat the VAT?” aims to train its users in skillful batting so that they don’t miss the balls, pay fines and penalties and of course remain in the field. The latest edition (2007) of the book is a thoroughly revised and enlarged one and also tries to explain VAT laws in simple language.

The chapters are arranged in a logical order to the extent possible by following the sequence of the Karnataka VAT Act and Rules. Rules have been explained with examples and illustrations.

The book works as a professional tool and comes handy in VAT management. It has quoted applicable, relevant and recent High Court and Supreme Court decisions to interpret the law in an authoritative manner and to support a particular view.

It has also commented on the law and have pointed out deficiencies/lacunae in the Act/Rules/Notifications with the aim of positive response from the authorities concerned for a smooth operation of the law.
This book has tried to ensure that it is neither biased towards the Government nor business enterprises. It expects the business enterprises to follow the law as it stands without flexing it to take undue advantage of apparent lacunae or inadvertent errors in the law, which would only lead to long term litigation for short term gains. Similarly, the government is expected to be fair in interpreting the law and in its implementation without hurting the enterprises.

The book has referred to the relevant Sections of the K- VAT Act and Rules as amended till July 29, 2007 and has also discussed the implications of notifications issued under the Act/Rules from March 11, 2005 till July 29, 2007. It should be noted here that though latest amendments to the K-VAT Rules, 2005, by the K-VAT (Amendment) Rules 2007 are incorporated in the book, they became effective from April 1, 2007.

One can of course refer to the Act/Rules, Notifications, Circulars, etc on the web site of the Karnataka government (kar.nic.in) to remain updated for any further details/clarifications.

Additional information
The book has three appendices and after that it has provided the six schedules to the Act.
Appendix I deals with the VAT law to further elucidate it and also contains detailed VAT accounting, which will help in filing return easily on time and correctly. VAT accounting also helps to explain to the VAT Authorities on any of their queries/doubts/clarifications or to cater to their information requirements. Appendix II deals with illustrations explaining the methodology to be adopted in filing the 6th and 12th months return, when a dealer files monthly provisional return showing the availment of partial input tax credit in respect of inputs, which are commonly used for exempted goods/taxable goods/stock transfers etc.

Appendix III explains on aspects of notifications issued by the Government of Karnataka from time to time. It also provides a list of notifications that are ineffective currently. This Publication has a total of about 300 pages and is priced at Rs 1450.

The author N Syamasundaran is the Director of Right India Consultancy House, the publisher of the book.