input credit allowed or not ??
This query is : Resolved
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?
my question : can he avail input credit of vat paid on purchase of maida?
18 March 2011
Yes he will get input credit
19 March 2011
Undoubtedly; That is the basic concept of VAT regime;
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