input tax credit
This query is : Open
12 March 2011
iwant to know whether we can take ipt 12.5% in related to 4 % sale that is purchase 12.5%
CMA Nishad Patkar
(Expert)
13 March 2011
Dear Siril
Yes You Can
Regards
Nishad
Yes You Can
Regards
Nishad
14 March 2011
If you are manufacturing any product than 12.5% input can be taken against output of 4%. But in case of trading I have doubts how a item purchased at 12.5% VAT can be sold at 4% VAT.
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