Rate of vat
This query is : Resolved
04 August 2010
Dear All,
One of my client is doing manufacturing of Baby Gift Box Items for which he is purchasing materials at 12.5% and 4% but while he is selling his product he has to sell his product at 4% under vat Act.Can he take the input credit of 12.5% VAT which he is paying while purchasing..
One of my client is doing manufacturing of Baby Gift Box Items for which he is purchasing materials at 12.5% and 4% but while he is selling his product he has to sell his product at 4% under vat Act.Can he take the input credit of 12.5% VAT which he is paying while purchasing..
CMA Ramesh Krishnan
(Expert)
04 August 2010
yes. Generally VAT act not restricting the input VAT based on percentage, 12.50 % input canbe taken against 4 % out put vat
CMA Ramesh Krishnan
(Expert)
04 August 2010
yes. Generally VAT act not restricting the input VAT based on percentage, 12.50 % input canbe taken against 4 % out put vat
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