Hi
We are in the software providing business in Maharashtra, Pune. We do pay VAT on some Capital goods ( like Building construction material/ Computers etc.). But we don’t have any kind of license sale/ product sale. So we do not have any Output VAT. Can we calim the refund of input VAT if there is no Output VAT?
Further we do have some scarp sale of assets every year. Can we utilize the input VAT against the output VAT? Does the law require any input Output ratio of VAT?
Are you register under vat act?
Are you register under vat act?
Yes Sir, We are Registered under VAT in Maharashtra.
As the basic thought on VAT goes
"where your product is not covered or exempted for VAT you cannot claim the input"
Further to your query you say you have sold some scrap which is incidental to your busines - here also you cannot take input as you are not dealer in scrap.
OK :) Thanks for your inputs... :)
Jawahar and Associates Chartered Accountants
Hyderabad
CA Inter
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