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Vat input credit

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Querist : Anonymous

Querist : Anonymous (Querist)

23 June 2014 Sir, Shall i take the input 12.5% against 5% & vice versa is that correct method.
another my question is input only taken on only payment input basis or all input credit basis pls help me.

NARENDRA SONI

NARENDRA SONI (Expert)
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23 June 2014 You can take the input tax credit towards the outtax payable. There is no such restrication on claiming the ITC.Once the purchases are made, one can claim the Input tax credit.There is no stipulation for payment.

Rupesh Jain

Rupesh Jain (Expert)
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23 June 2014 you can take input of vat use for trading or use in production of products .
and yor can pay the liability agast the input vat. rate of vat is not relevance.
you can take the input w/o payment to vendor.

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