input tax credit

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Ankit Rikhi (Querist)
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01 May 2017 For example- if a assessee buy a product Rs. 100 and also he paid to tax 14.30% and after that he can sale the product interstate 2% which he can claim input tax credit how?

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)
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02 May 2017 If you buy product within the state and sale product interstate you can definitely avail Input tax credit against inter state sales

Ankit Rikhi

Ankit Rikhi (Querist)
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02 May 2017 ok thanks pls tell me the product sale only sale to the state within punjab

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Ankit Rikhi

Ankit Rikhi (Querist)
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02 May 2017 which he can avail input tax credit

Ankit Rikhi

Ankit Rikhi (Querist)
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02 May 2017 or tell me the amount of refund in vat?

Ankit Rikhi

Ankit Rikhi (Querist)
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02 May 2017 My point A businessman buy a product Rs. 100 for example he charge a tax 14.30% means that the amount will be charge 114 total then after he can sale interstate a product Rs. 102. now he arrise a question there is any benefit regarding transaction under vat.

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)
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02 May 2017 Set of Rs.2 CST output against input Rs.14 balance 12 input will be c/f and adjustable with Next month sale.

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