Input vat credit and declaration
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 July 2013
hello sir
my name is ram vishwakarma
i have one question from excise
can the buyer of goods purchased from importer ( claimed for refund of Special CVD ) can take INPUT VAT CREDIT
2) And what kind of declaration have to made in sales invoice
please help me
my name is ram vishwakarma
i have one question from excise
can the buyer of goods purchased from importer ( claimed for refund of Special CVD ) can take INPUT VAT CREDIT
2) And what kind of declaration have to made in sales invoice
please help me
17 July 2013
Input tax credit is the credit for tax paid on inputs. Every dealer is liable for output tax on the taxable sale effected by him. The basic principle of VAT is that every dealer pays tax only on the value addition in his hands. Input tax credit is the mechanism by which the dealer is enabled to setoff against his output tax the input tax.
Dealers are not eligible for input tax credit on all inputs. There are certain restrictions and conditions on the eligibility of input tax credit as may be stipulated in the respective State Acts. The restrictions and conditions are answered separately.
further info:
https://www.tinxsys.com/TinxsysInternetWeb/faq.htm
Dealers are not eligible for input tax credit on all inputs. There are certain restrictions and conditions on the eligibility of input tax credit as may be stipulated in the respective State Acts. The restrictions and conditions are answered separately.
further info:
https://www.tinxsys.com/TinxsysInternetWeb/faq.htm
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Refund Annexure-B
- Sale of Equity shares for Purchase of Residential Property
- Clarification regarding Import E-way bill transaction type // Regular or Bill from Dispatch From
- GST Reverse
- Liable to deduct tds and 44ADA
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- Is Interest applicable for payment made through credit ledger vide DRC03 for FY 2020-21 & 2021-22
- Gstr7 vs Gstr3b 2026
- Gst return - cess
- Internship/Academic shown in Salary Pay Slip of a Doctor
- TDS PROCEDURE ON SALE OF IMMOVABLE PROPERTY BY NRI
- Refund of 20%pre-deposit paid for stay application
- ASISSE return under the provisions of the Collection of Statistics Act, 2008 (7 of 2009)
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
