Whether input vat can be availed for the sale of food stufs. One of my client is engaged in the business of hotel and they r charging VAT at the rate of 2% on the sale they made. Whether they can setoff such thing on the purchases they made (VAT is charged at 12%).
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VAT input credit rules
Replies (3)
2% is not a standard rate of vat, it may be composite levy without ITC
an unregister dealer sale printing and stationery to our client by charging vat @ 4%. our client is register dealer. whether our client can take input credit. or whether he should ignore paying vat to unregister dealer
| Originally posted by : sandeep gupta | ||
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an unregister dealer sale printing and stationery to our client by charging vat @ 4%. our client is register dealer. whether our client can take input credit. or whether he should ignore paying vat to unregister dealer |
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Unregistered dealer can neither charge vat , nor can issue tax invoice. if they do so, ask them to provide / print vat number on their such invoice, or refuse to pay vat charged.
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