Hello
One of my client is a beauty parlour owner. They purchase material which are sold out right as well as used in the parlour. Can i claim sett off for vat on all the goods purchased or do i need to seperate consumed in parlour and sold seperately.
Please reply
Thanks and Regards
Yes,you have to seperate the sale from normal consumption.You can claim input credit on the sold goods value only. This is to be calculated and restricted to such an extent.Input paid on consumed products should not be claimed......mjk
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