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Vat on petrol in- eligible for input vat credit?

Others 1498 views 2 replies

 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?

Replies (2)

we cant avail the input tax credit of tax paid on petrol watever the case maybe.
 

In case of Maharashtra (MVAT) , can we claim ITC for Vat ( @ 25%) paid on purchase of Petrol..?


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