Input credit
This query is : Resolved
18 September 2011
Respected Sirs,
We buy mango pulp paying 5% VAT, selling to merchant exporter based mumbai against form H for their export, in this deal, are we eligible for input credit of 5% VAT we pay in TN.
Thanks in advance for your advice in this connection.
Murugan
We buy mango pulp paying 5% VAT, selling to merchant exporter based mumbai against form H for their export, in this deal, are we eligible for input credit of 5% VAT we pay in TN.
Thanks in advance for your advice in this connection.
Murugan
18 September 2011
yes,
Selling against H form is not "exempted sales" but "sales against zero tax against H form"
so input credit is allowed on such purchases which are used in sales against form H
Selling against H form is not "exempted sales" but "sales against zero tax against H form"
so input credit is allowed on such purchases which are used in sales against form H
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