Vat input credit
This query is : Resolved
07 July 2011
pls suggest me when can we take vat input credit in our book whether on invoice date or payment date.
S.P.Mahanta
(Expert)
07 July 2011
As per VAT rules, VAT input credit can be taken immediately on receipt of invoice alongwith inputs. Input credit has no relation with payment date.
02 August 2011
Yes, Exactly, VAT Credit can be availed on receipt of Invoice and has no relevance with the Payment of the same.
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