Whether input credit avalied or not ?
This query is : Resolved
18 November 2014
Dear Sir, We are having two different business under one company 1. Used Scrap Tyres 2. Communications (Internet Service providers). In tyres business we are buying & selling the U/S. Tyres with a VAT @14.5%. But in Communication Business we are purchasing Capital Items and paying VAT on the Purchases and there in no Output VAT on this business . We are Charging Service Tax only on the Communication Business. My Question is that whether I can avail the Input Credit on the Communication Business or Not ? Please explain.
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Read more at: https://www.caclubindia.com/experts/modify_message.asp?entry_id=910014
Amol S Joglekar
(Expert)
18 November 2014
No. The VAT paid on the purchases of capital assets can not be made available for input credit.
Rupesh Jain
(Expert)
22 November 2014
if you out service in not taxable then you cannot take the input on purchases.
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