Hi everyone,
can u please tell me whether a dealer dealing with 7th schedule(non creditable) goods take input tax credit on capital goods?
thanks Sachidanans
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Itc on capital goods for dealer of 7th schedule
Replies (2)
Machineries or other capital goods related to production and sale of taxable goods only can take credit of input tax.In other cases it is not permitted. Similarly machineries purchased for doing job work will not be eligible for input tax credit.......mjk
Thanks sir...it is nice to have professional like you for our further guidence.
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