Ineligible vat itc
This query is : Resolved
06 September 2013
Myself Rakesh, Accountant at HM Suites & Studios, Bangalore.
First I want to know about Ineligible VAT. Is it applicable when we are purchasing any fuel materials (Gas) from our vendor?
In the month of August, my Gas bill was,
Base Amount: 16355.9
VAT : 2371.61
Then what will be the amount of Ineligible VAT & How much VAT I have to pay, Rs. 2371.61 or 11.5% of 16355.9 i.e 1880.93?
Please inform.
First I want to know about Ineligible VAT. Is it applicable when we are purchasing any fuel materials (Gas) from our vendor?
In the month of August, my Gas bill was,
Base Amount: 16355.9
VAT : 2371.61
Then what will be the amount of Ineligible VAT & How much VAT I have to pay, Rs. 2371.61 or 11.5% of 16355.9 i.e 1880.93?
Please inform.
08 September 2013
Hi Rakesh,
As per the section 11(6) read with section 14 of KVAT act 2003 You can claim the input to the extent of 11.5% on the input tax
As per the section 11(6) read with section 14 of KVAT act 2003 You can claim the input to the extent of 11.5% on the input tax
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Manual Rectification through AO
- IT Return filed defective u/s 139 (9)
- Fixed Deposit Claim Relinquishment by the Nominee
- Defective Return - Tds on advance
- Not a CA , can we prepare balance sheet
- TCS ON SOFTWARE SALES
- Income Type for interest from government bonds
- Adjustment at the beginning of the year
- Bifurcation of prepaid expenses
- Is income taxable or receivable or received in case of LLP and company
- TDS - Form 26QB - Installment - Final payment Query
- ITR 6 Schedule CFL and UD Issues
- Gstr 9 2023-24
- GSTR-9 HSN Summary and Credit Note without item
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
Trending Online Classes
-
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
Mr.Balamurugan Ranganathan15 November 2024
CAclubindia
