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Input tax claim

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(Querist)
13 February 2014 Dear sir,

Suppose the invoice shows the amount inclusive of all taxes then can we claim input tax of such invoice by bifurcation with amount.

Ex: Commodities Total amount 7500/-(inclusive of all taxes).

commodities (7500*5/100) = 7125=00
Tax @5% on commodities = 375=00
total = 7500=00

IS IT CORRECT ? AND CAN WE CLAIM INPUT TAX ?

PLEASE ADVISE US.
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Vishnu Saboo

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Vishnu Saboo (Expert)
17 February 2014 Normally, for availing ITC, tax amount must be mentioned clearly.
you must refer ur State VAT act.

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