Tax
This query is : Resolved
26 January 2014
if a seller is following composite system under then the buyer from such seller will be able to claim input tax credit ?
will his cost be inclusive of vat or just the selling price?
MJ Krishnamurthy
(Expert)
26 January 2014
Such composite tax payers are not permitted to collect tax in bills. So,it can not be inclusive of tax also. Hence,no ITC can be aviled on this purchase....mjk
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