A small doubt regarding VAT in practical sense. I am an internal auditor for dealers of Automobile.
They will buy Petrol average 40 Litres per month. In Andhra Pradesh, Petrol is VATable at 31% under Special floor rate.
My doubt is can we avail Input VAT credit on Special floor rate Vatable items i.e Petrol. If so, how the invoice should be?
CAclubindia
