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TN Vat Reversal of input credit

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(Querist)
17 July 2008 My client is a distributor of xerox machines. He enters into full service maintenance agreement with his customers for service and also for supply of toner, catridge & drums. He collects 4% works contract tax for this agreement. Whether he has to reverse the input credit for the free supply of toner catridge etc..

pls help to resolve this issue
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CA. O.P. Agarwalla

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CA. O.P. Agarwalla (Expert)
17 September 2008 Here the supply of toner (in execution of a taxable WC) is deemed sale and there is no need of reversal of any ITC.
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