Can we claim entry tax paid for purchase of spares amd machinery items paid under VAT Act , the input tax credit.?
If yes under which section.please clarify.
thanks and regards
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Input tax credit on entry tax paid
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you can take VAT credit over & above 4% of the tax ,if tax rate is 4% then credit is nil ,if tax rate is 12.5% then credit is 12.5%-4%=8.5%
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