Exam

This query is : Resolved

Share Report Follow Query Ask a Query

gaurav bothara

gaurav bothara (Querist)
Follow

05 June 2014 goods purchased within state@4% vat and sold within state @ 0% vat
is input tax credit available

Vishnu Saboo

Vishnu Saboo (Expert)
Follow

05 June 2014 if output good is exempted from sales tax, then ITC is not admissible, but if rate of tax is 0% for eg goods are exported or deemed export then ITC is admissible.

Message likes : 1 times

gaurav bothara

gaurav bothara (Querist)
Follow

05 June 2014 if nothing is given about export or exemption then also input tax credit is admissible

MJ Krishnamurthy

MJ Krishnamurthy (Expert)
Follow

06 June 2014 ITC is admissible only in the case direct export or sale in the course of export(H form sale).In all other instances ITC can not be claimed.....mjk

Message likes : 1 times

Vishnu Saboo

Vishnu Saboo (Expert)
Follow

10 June 2014 simple logic of ITC is, if ur output is taxable, even tax rate is 0%, ITC is admissible. but is output item is exempted, no ITC.

Message likes : 1 times

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

zafar chandwale

Partha Pratim Sen

Akash Sawant

John Ravindran Moses

Shashank S Gore

Subscribe Now

Exam

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANT

Article Assistant

Accountant

Manager- Finance and Compliance

CA Final

GST CONSULTANCY