My dear professional and friends can you ansower to this qurry? A VAT DEALER Purchased goods and sold at 100% discount ( Invoice Value is Zero) so there is no Output Vat liability, Can the Dealer avail Input Tax Credit on the purchase?
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Input Tax Credit - TNVAT
Replies (1)
Yes of-course only thing is that you will have to establish the business as genuine and transaction should be in the course of business and should have some logical policy about this like free sample + 1+1 scheme etc.
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