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Input vat on consumables

T.F. Khan (Trainee) (24 Points)

02 May 2012

Hi,

If VAT has been paid on consumables(Petrol/Diesel for running the for production) can we adjust the amount of VAT from the VAT of end product or in case of export can we claim for the refund for the VAT paid on consumables ?

Please reply with the reference books /circulars/law

Thanks

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5 Replies

Rashid Imam (Officer (Indirect taxation)) (296 Points)
Replied 02 May 2012

You cannot claim input tax credit on consumable (Petrol / Diesel).

Rashid Imam (Officer (Indirect taxation)) (296 Points)
Replied 02 May 2012

No..Petrol, diesel, liquor etc whose price is fixed by the government are not governed by VAT. Hence Input tax of petrol/diesel cannot be set off.. These are general principles and applicable to all states.

Sonu Kumar (Account Manager) (665 Points)
Replied 03 May 2012

In Case of Work Contract we Deduct all Consumable Amount From Gross Revenue and Charge Vat on Net Revenue. So we do not Take Input on it Because we take Whole Amount as a Deduction