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gaurav bothara

gaurav bothara (Querist)

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)

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.

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gaurav bothara

gaurav bothara (Querist)

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

MJ Krishnamurthy

MJ Krishnamurthy (Expert)

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

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Vishnu Saboo

Vishnu Saboo (Expert)

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.

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