Vat input @13.50%
This query is : Resolved
savithri h.r.
(Querist)
08 August 2012
Good afternoon,this savithri, i have one confusion in vat input credit, we have purchase some materials @ 13.50% on dtd: 23.01.11 But now i'm going to take entry against that purchase.
Just i want know shall i take the input credit now?its possible of the same !!!!!!
Kindly help me out for the above ..
Just i want know shall i take the input credit now?its possible of the same !!!!!!
Kindly help me out for the above ..
Rajnish Singh
(Expert)
09 August 2012
HI SAVITHRI,
YOU HAVE NOT MENTIONED YOUR BUSINESS TYPE ,NEITHER YOU MENTIONED YOUR PURCHASE TYPE .
WELL,.
FOLLOWING RULE HAS TO FOLLOW IN THIS CASE .
# IF YOU PURCHASE THE GOODS IN WHICH YOU DEAL YOU CAN TAKE INPUT AND ADJUST THIS WITH YOUR OUTPUT TAX.
# IF YOU ARE NOT DEAL IN THAT PARTICULAR GOODS OR PURCHASE OTHER THAN BUSINESS ACTIVITES THAN CAPITALISED THEM
IF YOU NEED ANY FURTHER INFORMATION FREELY REVERT ME
THANKS
RAJJNISH
YOU HAVE NOT MENTIONED YOUR BUSINESS TYPE ,NEITHER YOU MENTIONED YOUR PURCHASE TYPE .
WELL,.
FOLLOWING RULE HAS TO FOLLOW IN THIS CASE .
# IF YOU PURCHASE THE GOODS IN WHICH YOU DEAL YOU CAN TAKE INPUT AND ADJUST THIS WITH YOUR OUTPUT TAX.
# IF YOU ARE NOT DEAL IN THAT PARTICULAR GOODS OR PURCHASE OTHER THAN BUSINESS ACTIVITES THAN CAPITALISED THEM
IF YOU NEED ANY FURTHER INFORMATION FREELY REVERT ME
THANKS
RAJJNISH
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