Saturday, August 6, 2011

What each digit indicates in the 11 digit TIN Number? (Karnataka Value Added Tax)

(a) What each digit indicates in the 11 digit TIN Number?
(b) If we purchased goods locally from the registered dealer and stock-transferred the same to
outside the state, what will be the input rebate available. Assume the rate of tax is 12.5%.
Ans: In the TIN, the first two digits indicate State code, i.e., 29 for Karnataka. The next two digits
indicate check digit and the remaining seven digits indicate the running number of the dealer. On
stock transfer of locally purchased goods, there is no levy of any tax as there is no sale involved in
stock transfer.

Karnataka E-Sugam Full Information
Regards
G.Srinivas

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