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Input tax credit

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Querist : Anonymous

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Querist : Anonymous (Querist)
16 August 2011 Can a software company can take Input credit of VAT paid [Both capital & revenue Expenses].

If so can this input tax can be settoff aganist the CST payable of the Company
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
23 August 2011 You can take input on materials provided your output product also taxable under VAT

Input on capital goods based on your Local VAT act

Input set off against CST not possible
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