Will Credit allowed on Rate Differ
This query is : Resolved
Devendra Tambe
(Querist)
12 July 2008
We are dealing in Disposable Items.we Raising Invoice for example of Rs.1000/- against of the same Party make the Payment of Rs.900/-. it Means we have to pass Rs.100/- to Discount, Rate Differ. My Quary is against Rs.100/-, we are paying excess VAT to Government. Can we claim Credit on the same or Not ?
if Yes, then Pls provide me Rule or Circular No. for the same
if Yes, then Pls provide me Rule or Circular No. for the same
Sanjeev Kumar
(Expert)
12 July 2008
yes, you are eligible to claim the same
Devendra Tambe
(Querist)
12 July 2008
Can U provide me Rule or Circular for the same
CA. O.P. Agarwalla
(Expert)
28 September 2008
Please go through defination of "sale price" and section relating to "adjustment to output credit".
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