31 January 2011
punjab vat act dear experts plz reply?? so far as i come to know that input.credit of vat on diesel purchase is only 8.8%?? is this provision is applicable now ?? is there any new notification in this regard ??? can we claim inpur of surcharge (10%) on vat ??
02 February 2011
Dear Sumit In a recent case decided by Hon'ble SC Petrol And Diesel being a specified item mentioned in Negative List u/s 13(5) of Punjab VAT Act. So its credit is not available under any circumstances. The general principle of law says in the case of general and express provision, the express should prevail
CAclubindia
