input tax on purchase of depb for payment of custom duty
This query is : Open
25 December 2012
I had purchased DEPB licence of Rs.1,00,000 and paid output tax of Rs 5000/-. The said DEPB licence was utilised by me for payment of custom duty for import of goods meant for resale. Can tax paid by me for purchase of DEPB is allowable as input tax under Delhi Value added tax Act,2004. please give relevant case law.
25 December 2012
yes you can take input vat credit and show in vat return as local purchase.
25 December 2012
Thank you, Sir. Pls. provide me the relevat case law. also refer whirlpool determination available on dvat site.
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