13 June 2009
If a company purchases Cement or other such material for construction/expansion of its factory and office building, is it eligible to take Input Credit for same?
13 June 2009
Normally under the local VAT laws the restriction if any is to be examined. In Karnataka the input credit would not be available as it is resitricted.
In my view keeping the principels of avoiding cacading effect of duties this restriction is not proper. Hopefully when GST comes this wouldbe addressed.
CAclubindia
