Works contract tax

Mallikharjun (Deputy Manager) (304 Points)

07 February 2012  

Rule 17(1)(b) -  "In such a case the VAT dealer shall be eligible to claim input tax credit on ninety percent (90%) of the tax paid on the goods purchased other than those specified in sub-rule (2) of Rule 20 and shall be eligible to issue a tax invoice."

 

Is there is any change in the above rule?  I heard that now % of ITC is only 75%.  Is it true?  If yes, give me the notification no?