Packing material on input credit
This query is : Resolved
15 September 2012
Dear sir,
we are operating manufacturing industries we using packing material but it is not using as raw material after finishing of the product we using packing material so can we claim input tax credit on packing material
please tell me
Regards
Ramesha.m
we are operating manufacturing industries we using packing material but it is not using as raw material after finishing of the product we using packing material so can we claim input tax credit on packing material
please tell me
Regards
Ramesha.m
15 September 2012
sure, you can take credit on packing materials, as it is mandatory( you have to establish it ) to pack the goods for safety and transportation and hence qualify for input credit.
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15 September 2012
agree with sharma sir
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15 September 2012
Dear sir,
suppose the invoice had no input credit that means exempted can we take that invoice purchase entry or it will shown direct expenses? please tell me
Thanking you
Regards
Ramesha.m
suppose the invoice had no input credit that means exempted can we take that invoice purchase entry or it will shown direct expenses? please tell me
Thanking you
Regards
Ramesha.m
15 September 2012
input credit availed or not, does not make it different from purchase :) it would still be part of purchase
if the vat is not charged then department may initiate the levy of tax on unregisterred purchase.
if the vat is not charged then department may initiate the levy of tax on unregisterred purchase.
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15 September 2012
Dear sir,
sure sir it is not direct expenses? it is a part of purchase ""because in our firm it is not uses for raw material it is only for packing material to used.
can we take as purchase?
Thanking you
Regards
Ramesha.m
sure sir it is not direct expenses? it is a part of purchase ""because in our firm it is not uses for raw material it is only for packing material to used.
can we take as purchase?
Thanking you
Regards
Ramesha.m
15 September 2012
purchase is also a direct expense :)similer is "packing purchase"
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15 September 2012
Yes u can take input on Packing Materials
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17 September 2012
Dear Experts
Thank you so much for your valuable replay for all experts
Regards
Ramesha.m
Thank you so much for your valuable replay for all experts
Regards
Ramesha.m
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