input tax credit
This query is : Open
12 March 2011
iwant to know whether we can take ipt 12.5% in related to 4 % sale that is purchase 12.5%
13 March 2011
Dear Siril
Yes You Can
Regards
Nishad
Yes You Can
Regards
Nishad
14 March 2011
If you are manufacturing any product than 12.5% input can be taken against output of 4%. But in case of trading I have doubts how a item purchased at 12.5% VAT can be sold at 4% VAT.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- ITC available on QIP Expenses
- AS-16 Treatment of Borrowing cost for land and building
- HSN Wise Summary Reporting in GSTR-1
- TDS on Payment to Non-Resident by Resident Foreign Entity
- HOW TO CALCULATE FOOD CHARGES
- Demand due to error in 3cd
- Travel Agent Charges 5 GST without ITC. Can he raise invoice18 on Service Fee for Flight Tick
- Income tax planning
- Please help with SAC Codes (6 digits) for below mentioned services provided by Chartered Accountant
- Printing Press under Composition Scheme
Trending Online Classes
-
Certification Course on GSTR-3B Reconciliation with GSTR-2B through Chat GPT
CA Deepak Gupta26 April 2025
CAclubindia
