21 May 2014
Final product is exempt from VAT. however the VAT is paid on Scrap arising in the process of manufacturing. There are purchases such as spares etc which has VAT element. Can the VAT paid on spares be utilized towards payment of VAT on Scrap sales ?
21 May 2014
Refer HC ruling in case of Central Excise officer Vs Albert David. The matter is in context of Cenvat which can be squarely applied to VAT also.
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