Input tax credit under karnataka vat.
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 January 2014
Dear experts,
I have client he doesn't have any taxable sales except scarp, he usually purchase machinary, but he use that machinary in the process of sale of exempted goods.
Does he get input tax credit under karnataka VAT ?
I have client he doesn't have any taxable sales except scarp, he usually purchase machinary, but he use that machinary in the process of sale of exempted goods.
Does he get input tax credit under karnataka VAT ?
30 January 2014
Should the machinery be used for manufacture of exempted goods, input tax shall be restricted under section 11. Hence claim of input tax under KVAT may not be allowed.
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