Input restricted goods

Others 908 views 3 replies

Dear friends ,

As per KVAT act , Fifth Scedule related to Input Restricted Goods, one of the clause contains

Furniture including slotted angles and ready to assemble parts of

furniture, stationery articles including paper, sanitary fittings,

cement and other construction materials including bricks, timber,

wood, glass, mirrors, roofing materials, stones, tiles and paints,

toilet articles.

Does this mean that VAT cannot be claimed on the p[urchase of any glass items say example  purchase of 10mmplain glass ?

Thanks in advance

 

Replies (3)

End user cannot claim input tax on vat restricted goods

Purchaser can't take input credit however if a dealer sells these goods he'll have to charge tax

If you are using the glass in your production of goods for sale you can claim input tax, otherwise ITC is restricted


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