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vat inclusive purchase

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(Querist)
28 April 2008 Do we get the input tax credit on inclusive purchase?
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Hari Venkata Ramana

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Hari Venkata Ramana (Expert)
28 April 2008 Yes, Definitely. There is a seperate formula for arriving the Tax paid under inclusive method (Under APVAT Act). You may ensure that it is not under negative list where ITC is not eligible. for formula you have to refer the VAT rules of relevant State.
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