Dear All,
Please let me know whether LPG gas used to cut the plates (Input ) can be eligible to avail the input credit?
Whether the LPG gas can be considered as input or not ?
Regards,
S.V.Ramana
Venkata Ramana Sriram (Service) (119 Points)
20 May 2011Dear All,
Please let me know whether LPG gas used to cut the plates (Input ) can be eligible to avail the input credit?
Whether the LPG gas can be considered as input or not ?
Regards,
S.V.Ramana
Harpreet
(* * * * * *)
(1670 Points)
Replied 20 May 2011
No, the same is not eligible for "INPUT TAX" as you are not trading the LPG GAS you are using the same just as for cutting the plates and the same should be under consumable stores/expenses.
Mahabaleshwara Rao
(director)
(197 Points)
Replied 22 May 2011
While asking question about VAT first mention the state.
Under karnataka VAT Act, input credit on LPG is available to the extent VAT paid in excess of 2% as per SEc. 11 read with Sec. 14 of the Act.
Dheerendra
(Finance Incharge)
(122 Points)
Replied 09 August 2011
if u r a manufacturer in karnataka and u r using it for other than canteen u can avail input credit as shown below
RS. -1000 (NET AMOUNT)
VAT 14%-114
TOTAL -1114
INPUT
14% 114
5% 50
RESTRICTED 64
barkat ali
(auditors)
(32 Points)
Replied 15 August 2011
what is the input to be taken on LPG (commercial gas) for 5stars hotels in karnataka, as per last year input to be taken was 8.5%,now after VAt changed to 14% the input to be taken as 10%?? or not
Ravichandran.k
(Accountant)
(21 Points)
Replied 03 January 2014
We have in ceramic product manufacture plant now purchase for LPG Liquid Gas, Input vat credit take for it. Pls. conform
Ravi K
A/c Section
CAclubindia
