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Vat credit

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Querist : Anonymous

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Querist : Anonymous (Querist)
10 January 2013 Material purchased for 'Factory Shed'like assbasdors,hook,fiber glass etc.what is the Accounting treatment of it?and are we liable to take input VAT Credit?
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LOKESHA D A

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LOKESHA D A (Expert)
11 January 2013 No,,,you are not liable to take a input vat on expense, just u can treat it as an factory expenses.....
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