Reversal of input tax credit
This query is : Resolved
30 June 2016
Can anyone tell me the concept of reversal of input tax credit like input tax paid on oil & lubricants is reversed which is paid in excess of 5.50 % in Punjab ?
and also tell me the commodities on which such reversal is applicable ?
Thanks
and also tell me the commodities on which such reversal is applicable ?
Thanks
30 June 2016
under the vat act, there will be many situation when the reverse make by the deptt. its depend on the state vat act.
if you make stock tfr out of state then you are making reverse. and when you using for vat exempt goods mfg. then its also to be reverse., pls mention your case.
if you make stock tfr out of state then you are making reverse. and when you using for vat exempt goods mfg. then its also to be reverse., pls mention your case.
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
- TDS on Consultancy- Non DTAA
- Depreciation of fixed assets- coop housing society in mumbai
- Reopen of assessment proceeding
- Management System (IMS)
- FTS Taxable under 115A
- Experts need help
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- EPF FULL & FINAL RULES IN 2026
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- COMMERCIAL INVOICE FOR MATERIAL AND FREIGHT
- Gift Received from nonblood relative
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
