Input vat
This query is : Resolved
30 October 2013
Dear sir,
We clearing material @5% vat under AP vat, where as we are using one main raw material on which we are getting 14.5% input vat, shall we can take credit entire 14.5% or proportionate . If proportinate means what formula shall apply .Pls clarify
We clearing material @5% vat under AP vat, where as we are using one main raw material on which we are getting 14.5% input vat, shall we can take credit entire 14.5% or proportionate . If proportinate means what formula shall apply .Pls clarify
30 October 2013
if VAT on final product is more than the vat on input, then you can take entire amount of ITC
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