Input tax credit under karnataka vat.
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 January 2014
Dear experts,
I have client he doesn't have any taxable sales except scarp, he usually purchase machinary, but he use that machinary in the process of sale of exempted goods.
Does he get input tax credit under karnataka VAT ?
I have client he doesn't have any taxable sales except scarp, he usually purchase machinary, but he use that machinary in the process of sale of exempted goods.
Does he get input tax credit under karnataka VAT ?
30 January 2014
Should the machinery be used for manufacture of exempted goods, input tax shall be restricted under section 11. Hence claim of input tax under KVAT may not be allowed.
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
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- GST on export of services and Input Credit
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Applicable TDS rate for sale of property in Nov 2024
- Donation Receipt u/s 80G
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
Trending Online Classes
CAclubindia
