We have an audit of a Pharma Company which deals in Bulk Drugs manufacturing.
I have a Query relating Vat setoff on chemicals used in Laboratory for testing Raw-Materials before issue to Plant and Production.Can we avail VAT setoff on such chemicals Exp? (My Question is in context with GVAT).
In case of Manufacturing Industry, Laboratory is a part of manufacturing process. So we can avail the input vat on materials used in Laboratory.
yes dear, we can set off input vat on rawmaterial in manufacturing concerns.
Yes, one can take Input Vat Credit on purchase of Material Used for testing before manufacturing purpose.
yeah
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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