CA Day celebration 2024 Easy Office
LCI Learning

VAT credit

This query is : Resolved 
Profile Image

Profile Image

(Querist)
09 March 2009 Amt.paid for consumable debited to repair & maintenence account? Can VAT credit be taken or head is req. to be changed frm repair & main. to consumable.
Profile Image

CA. MITHUN KHATRY

Profile Image

CA. MITHUN KHATRY (Expert)
09 March 2009 vat credit on purchase of consumables used EXCLUSIVELY for labour/jobwork (i.e. not manufacture) is DISALLOWED

i.e. if consumable is used for manufacture of TAXABLE goods then it is allowed.

so show it as consumables is Manufacturing & Trading account as direct expenses.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


CA Day celebration 2024 with Tally CCI Pro

Trending Online Classes

view all classess
Let's Talk Money: You've Worked Hard for It, Now Make It Work for You
Click here for more bestsellers


Answer Query



Quick Links