11 January 2014
We are into business of generation of electrical energy which is a tax-free/zero rate item under VAT/central excise respectively. Electricity will be sold to state under power purchase agreement of 25 years. Fly ash will be generated during generation of electricity which is taxable goods under sales tax & central excise.
Is input tax credit available under VAT/central excise against sales of fly ash ?
CAclubindia
