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vat credit on foreign bill

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Querist : Anonymous

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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.
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Ram Avtar Singh

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Ram Avtar Singh (Expert)
25 March 2011 Not allowed
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Querist : Anonymous

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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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