vat credit on lubricants(punjab)

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

15 October 2010 I work in a manufacturing company. Diesel, grease and other lubricants are being used in our company. whether we can take vat input credit on diesel and grease and other lubricants?? kindly mention the relevant provision also.

Amit Bajaj

Amit Bajaj (Expert)
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17 October 2010 You can take input tax credit for lubricants u/s 13(4) of Punjab VAT Act 2005 if it is used for captive generation of electric power.

But no input tax credit is available on purchase of diesel used for captive generation of electric power as it has been held by the Punjab and Haryana High court is the latest case of
State of Punjab
V
Malwa Cotton Spinning Mills Ltd

For full judgement can refer at the following link:
http://amitbajajadvocate.blogspot.com