Vat credit in construction businees
This query is : Resolved
Pramod Patil
(Querist)
31 March 2014
We are newly entering in Construction Business. Which nature is construct building and sold flats of it. I have query regarding when we have purchasing material for building construction(like.cement,steel &etc) and on which seller charges VAT to us. Is there get any benefit or setoff of that VAT to us. Should we treat that as a INPUT Vat while accounting.
CA RICHA BADALIA
(Expert)
31 March 2014
Since you are in construction business VAT input on building materials will be allowed to u as Input Credit.
Kindly let me know in which state the business is?
Kindly let me know in which state the business is?
Pramod Patil
(Querist)
02 April 2014
We are working since 2011 in Maharashtra State.
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