31 August 2013
I m working in a manufacturing unit where gas cylinders as used as a part of production. We have done agreement with Gas supplier regarding supply of Gas Cylinder. He is supplying gas cylinder and giving retail invoice. Can i take input vat credit on gas cylinder.
One more thing is tds applicable on agreement between Unit & Supplier?
31 August 2013
Yes you can take input vat credit but you have to show charges paid as your purchase and if the amount is shown as purchase then there is no question of deducting tds