Input Tax Credit

ITC / Input 107 views 5 replies
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47 Points Joined July 2017
if a person doing a business purchased goods by paying vat on that good before 30th June but he sells his good after 30th June . Should he able to get the input tax credit ?
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On 16 July 2017 at 08:23 Report
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338 Points Joined June 2017
Yes he will get credit.
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On 16 July 2017 at 08:33
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47 Points Joined July 2017
At what point of time ?
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On 16 July 2017 at 08:34
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2 Points Joined July 2017
we are a manufacturing firm and we want to export goods to Nepal.what will be the complete procedure for the same.
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On 16 July 2017 at 08:37
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AO
272 Points Joined June 2009

Provided he has purchase bills are available.

If your pourchase invoice is excicse invoice, pass on the ED+VAT portion to your buyer.

If you are trader, identify your product's GST rate today and if it is <=5% take 40%  & 60% if >-18% as ED credit and pass on to buyer.

Correct me if I am wrong

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On 16 July 2017 at 09:51
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1518 Points Joined March 2017
Fill your stock details in TRANS 1 to avail ITC
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On 16 July 2017 at 12:42


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