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

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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