Vat input credit
This query is : Resolved
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.
another my question is input only taken on only payment input basis or all input credit basis pls help me.
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.
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.
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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