Set off furnace oil
This query is : Resolved
05 December 2015
Furnace oil is the fuel used ti heat Bituman. Whether the vat paid on furnace oil is available as set off from vat liability.
05 December 2015
Dear Mr. Jiran,
Input VAT Credit can be availed only when the goods are used as a raw material or consumables, which means the goods should be an ingredient of outcome material.
Therefore, input credit cannot be availed for fuel used for manufacturing/processing of end product.
Input VAT Credit can be availed only when the goods are used as a raw material or consumables, which means the goods should be an ingredient of outcome material.
Therefore, input credit cannot be availed for fuel used for manufacturing/processing of end product.
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