VAT on coke
This query is : Resolved
CA Mehul Mehta
(Querist)
14 May 2009
Hello Experts,
We have purchased coke from registered dealer. As coke is a specified goods and so maximum chargeable VAT is 4%. There is no additional VAT. We are using coke for the manufacturing of Brick, raw bauxite.
My query is can we claim refund of VAT credit of coke or else we have to book it as direct expenses in trading account.
We have purchased coke from registered dealer. As coke is a specified goods and so maximum chargeable VAT is 4%. There is no additional VAT. We are using coke for the manufacturing of Brick, raw bauxite.
My query is can we claim refund of VAT credit of coke or else we have to book it as direct expenses in trading account.
14 May 2009
First you set it off against your VAT payable and rest you can carry forward.
CA Mehul Mehta
(Querist)
15 May 2009
Hello Experts,
We have purchased coke from registered dealer. As coke is a specified goods and so maximum chargeable VAT is 4%. There is no additional VAT. We are using coke for the manufacturing of Brick, raw bauxite.
My query is can we claim refund of VAT which is paid on coke or else we have to book it as direct expenses in trading account. There is also a provision of VAT credit available if we sale it in inter-state. But as it is used in manufacturing of Brick, raw bauxite so there is no inter-state sale.
Your early reply will be highly appreciated.
We have purchased coke from registered dealer. As coke is a specified goods and so maximum chargeable VAT is 4%. There is no additional VAT. We are using coke for the manufacturing of Brick, raw bauxite.
My query is can we claim refund of VAT which is paid on coke or else we have to book it as direct expenses in trading account. There is also a provision of VAT credit available if we sale it in inter-state. But as it is used in manufacturing of Brick, raw bauxite so there is no inter-state sale.
Your early reply will be highly appreciated.
Vishnu Saboo
(Expert)
01 June 2009
If it is your RAW Material, you can avail the credit, whether u sale your finish good within state or outside state.
you can claim of refund if it remains unadjusted under rule 37.
you can claim of refund if it remains unadjusted under rule 37.
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