26 July 2013
OUR COMPANY AT AURANGABAD AT MAHARASHTRA WE ARE PURCHASE ALL RAW MATERIAL FROM MAHARASHTRA WE SALE OUR PRODUCT TO INTERSTATE LIKE GUJRATH ,ANDHRA PRADESH,DELHI, OUR 80% SALE IS INTERSTATE 70% PURCHSE FROM MAHARASHTRA MY QUSTION CAN I TAKE IN PUT CREDIT IN MVAT ON PURCHASE RAW MATERIAL FROM MAHARASHTRA 100% AGAINST OUR INTERSTAE SALE FOR EG WE SALE 5CR GOODS TO INTERSTAE ,PURCHASE RM MAHARASHTRA 3 CR CAN I TAKE FULLY CREDIT ON PURCHAS 3 CR AMT
26 July 2013
You are eligible to take input credit of vat provided that ur output product is vatable and such credit can be utilise to set off the C.S.T. liability as well as vat liability.. Regards
CAclubindia
