input vat credit
This query is : Resolved
RAMA KRISHNA
(Querist)
18 March 2009
Dear All,
We are Ltd., Company. Engaged in manfacuring of Plastic Pails & Pouches.
We are having 2 units, in the one unit we are manfacturing the above said items and sale the same to our customers.
in the another unit, we manfacutring the same items on jobwork basis to others. The Raw material will be supplied by them. my queqy is can we claim input tax credit (on capital goods & Maintenace Exp.(Machinery & Plant) of the unit where we don't have the liability output tax.
can we adjust the input tax credit with output tax payable at another unit.
Please suggest us along with relevant sections.
With regards.
Rama Krishna.
Jr.Executive -Accts.
Dear All,
We are Ltd., Company. Engaged in manfacuring of Plastic Pails & Pouches.
We are having 2 units, in the one unit we are manfacturing the above said items and sale the same to our customers.
in the another unit, we manfacutring the same items on jobwork basis to others. The Raw material will be supplied by them. my queqy is can we claim input tax credit (on capital goods & Maintenace Exp.(Machinery & Plant) of the unit where we don't have the liability output tax.
can we adjust the input tax credit with output tax payable at another unit.
Please suggest us along with relevant sections.
With regards.
Rama Krishna.
Jr.Executive -Accts.
CA. O.P. Agarwalla
(Expert)
31 March 2009
No
NO ITC can be claimed on Fixed Assets used in jow eork only.
NO ITC can be claimed on Fixed Assets used in jow eork only.
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