Input Credit on Packing Materials Purchased.
This query is : Resolved
e.n.ananthanarayanan
(Querist)
04 July 2010
Respected Sir / Madam
Please let me know whether a manufacturing entity can utilize the Input credit of VAT paid in purchase of Packing Materials.
This clarification is required as there is a school of thought wherein the view is that the input credit on packing materials
can not be availed off as the same is not related to manufacturing activity and the packing materials are related to selling / marketing of the goods manufactured.
Kindly enlighten on the above issue.
With Regards.
e.n.ananthanarayanan
Respected Sir / Madam
Please let me know whether a manufacturing entity can utilize the Input credit of VAT paid in purchase of Packing Materials.
This clarification is required as there is a school of thought wherein the view is that the input credit on packing materials
can not be availed off as the same is not related to manufacturing activity and the packing materials are related to selling / marketing of the goods manufactured.
Kindly enlighten on the above issue.
With Regards.
e.n.ananthanarayanan
04 July 2010
Hi
VAT paid in purchase of packing material can be taken as Input credit...This is specifically said in the Act..in inputs eligible for Input credit....
VAT paid in purchase of packing material can be taken as Input credit...This is specifically said in the Act..in inputs eligible for Input credit....
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