Input tax credit
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 February 2013
my supplier collected tax @14,5% under AP VAT my product rate is 5%. can i claim input tax credit @14.5% and pay out put tax@5% please advise me with any case laws if any. If Yes, can any expert can provide me any notification or case study in this regard
27 February 2013
yes you can pay output tax @5% & claim the balance as refund.
16 August 2023
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