Rule 17(1)(b) - "In such a case the VAT dealer shall be eligible to claim input tax credit on ninety percent (90%) of the tax paid on the goods purchased other than those specified in sub-rule (2) of Rule 20 and shall be eligible to issue a tax invoice."
Is there is any change in the above rule? I heard that now % of ITC is only 75%. Is it true? If yes, give me the notification no?
CAclubindia
