VAT credit on LPG Gas

Others 8657 views 7 replies

Dear All,

Please let me know whether LPG gas used to cut the plates (Input ) can be eligible to avail the input credit?

Whether the LPG gas can be considered as input or not ?

 

Regards,

S.V.Ramana

Replies (7)

No, the same is not eligible for "INPUT TAX" as you are not trading the LPG GAS you are using the same just as for cutting the plates and the same should be under consumable stores/expenses.

While asking question about VAT first mention the state. 

Under karnataka VAT Act, input credit on LPG is available to the extent VAT paid  in excess of 2% as per SEc. 11 read with Sec. 14 of the Act.

if u r a manufacturer in karnataka and u r using it for other than canteen u can avail input credit as shown below

 

RS.          -1000 (NET AMOUNT)

VAT 14%-114

TOTAL    -1114

 

INPUT

14%                        114

 5%                         50
RESTRICTED     64

what is the input to be taken on LPG (commercial gas) for 5stars hotels in karnataka, as per last year input to be taken was 8.5%,now after VAt changed to 14% the input to be taken as 10%?? or not

No now it is 9%

We have in ceramic product manufacture plant now purchase for LPG Liquid Gas, Input vat credit take for it. Pls. conform

 

Ravi K

A/c Section 

whether can we taken gst input of LPG

 


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