Vat
This query is : Resolved
03 September 2012
can the input tax credit @(for e.g)5% be used to set off output tax @(for e.g)14.5%?
04 September 2012
Yes, there is no(percentage) limit on setting of Input Tax Credit against the Output Tax.
The Maximum amount you can set off Input Credit is to a limit of Output Tax payable and the balance can be carried forward.
The Maximum amount you can set off Input Credit is to a limit of Output Tax payable and the balance can be carried forward.
vishwash agarwal
(Expert)
04 September 2012
Yaa
You definately can
Thanx & Regards
Vishwash Agarwal
MN : 7666515328
Mail ID : samadhan.vish@gmail.com
You definately can
Thanx & Regards
Vishwash Agarwal
MN : 7666515328
Mail ID : samadhan.vish@gmail.com
05 September 2012
thanks... but y then in companies they maintain Input tax credit a/cs with different percentages? This is a TN VAT issue..
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