vat credit on foreign bill
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 March 2011
We have imported machineries from china and made contract wih the company that they will send their highly skilled professionals for the term of 1year for producion of finished goods ready to despatch from their machinery installed. MY Query is what are the taxes applicable on such contract? They will raise their bill with 17%vat in Dollars on us, Is this vat can be taken as credit or not? Please solve my query as it is urgent.Thanks & Regards.
25 March 2011
Not allowed
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 March 2011
Sir please can u expalin in detail that why credit is not available as we are manufacturing unit
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