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input credit allowed or not ??

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(Querist)
17 March 2011 one of our client makes noodles from maida. he purchases maida on which vat is charged. from maida he makes noodles. he collects vat on sale of noodles.

my question : can he avail input credit of vat paid on purchase of maida?
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CA KRISHNA KUMAR DARUKA

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CA KRISHNA KUMAR DARUKA (Expert)
18 March 2011 Yes he will get input credit
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caferoz

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caferoz (Expert)
18 March 2011 yes input can be availed
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Surrender

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Surrender (Expert)
19 March 2011 Undoubtedly; That is the basic concept of VAT regime;

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