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input tax credit

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(Querist)
12 March 2011 iwant to know whether we can take ipt 12.5% in related to 4 % sale that is purchase 12.5%
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CMA Nishad Patkar

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CMA Nishad Patkar (Expert)
13 March 2011 Dear Siril

Yes You Can

Regards

Nishad
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CA KRISHNA KUMAR DARUKA

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CA KRISHNA KUMAR DARUKA (Expert)
14 March 2011 If you are manufacturing any product than 12.5% input can be taken against output of 4%. But in case of trading I have doubts how a item purchased at 12.5% VAT can be sold at 4% VAT.




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