Eligibility of itc(input tax credit) on png
This query is : Resolved
Anil Bhandari
(Querist)
02 January 2012
Is Input tax credit(ITC)available on Piped Natural Gas(PNG) used for running furnace in Manufacturing Entity?
MJ Krishnamurthy
(Expert)
04 January 2012
Mr Bhandari,
There is some diffrence on this point among the state VAT laws. You are refering to which state.
MJK
There is some diffrence on this point among the state VAT laws. You are refering to which state.
MJK
Anil Bhandari
(Querist)
05 January 2012
Uttar Pradesh(U.P.)
MJ Krishnamurthy
(Expert)
05 January 2012
Mr Anil Bhandari,
If the PNG is used in the process of manufacturing then it is permitted to avail the ITC.If it is used in running a captive power unit it is not entitled for ITC on its purchases.
MJK
If the PNG is used in the process of manufacturing then it is permitted to avail the ITC.If it is used in running a captive power unit it is not entitled for ITC on its purchases.
MJK
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