Depb licence under fms & fps

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

26 June 2015 DEAR SIR
CAN A GOODS TRADER FIRM ( NOT MANUFACTURING & NOT EXPORTING) AVAIL OF INPUT TAX CREDIT IN CASE OF PURCHASE OF DEPB LICENCE,SELLER OF LICENCE ISSUE A VAT INVOICE
PLEASE SORT

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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30 June 2015 Noted that A registered dealer assigned with TIN is entitled to claim input tax credit.

The purchasing dealer or the dealer availing input tax credit must be a registered dealer assigned with TIN.

· Purchases must be in respect taxable goods other than those specified in schedule ‘C’.

· Purchases should be made within the State.

· The evidence for claiming input tax credit i.e. the Tax Invoice issued by the selling registered dealer assigned with TIN is available.