input tax credit
This query is : Resolved
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?
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
02 May 2017
ok thanks pls tell me the product sale only sale to the state within punjab
Message likes :
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02 May 2017
which he can avail input tax credit
02 May 2017
or tell me the amount of refund in vat?
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.
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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