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Vat help!
Hi, cn any1 throw sum lite on whether 1 can claim credit @ 4% against liabilty @ 12.5% nd also vice versa of it...plz help m confusd!..:|
Replies (2)
Yes u can claim credit as there is no such provision.
Yes,in a manufacturing process,such a situation occurs. The inputs and the output may be of different tax rates and they can be claimed as such. The net tax can be positive or negative.....MJK
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