Cr of vat itc
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 December 2012
one of our client purchse capital goods paying vat @ 12.50% against which the output goods from manufacturing is taxable @ 5% What will be the firm entitled for itc( 12.50% or 5%) if 5% please provide notification or rule...
03 December 2012
Full credit shall be allowed. Credit of input tax is NOT dependent on the rate of output tax.
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