Input vat credit
This query is : Resolved
07 September 2016
Can we take credit of VAT paid on purchase of materials other than what our business deals in? For e.g, If my company is the seller of Garments & Cloth than we can take credit of VAT paid for purchase of Garments. But if I have vat on expenses like stationary items' purchase then can I take input credit of VAT. I request CAclubindia to reply to this query.
07 September 2016
No, you can not take stationery expenses on input tax credit
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