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Ap vat

rajender guptha (CA) (168 Points)

28 January 2014

Can anyone please explain me regarding rule 17 d of AP VAT act on how to cliam input credit

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IDT Consultant (IDT Consultant) (28 Points)
Replied 28 January 2014

Originally posted by : rajender guptha
	Can anyone please explain me regarding rule 17 d of AP VAT act on how to cliam input credit

There is no Rule 17(d) in APVAT Rules, 2005. Please ask your questions more specifically to get correct help.

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rajender guptha (CA) (168 Points)
Replied 28 January 2014

Originally posted by : rajender guptha
	Can anyone please explain me regarding rule 17 d of AP VAT act on how to cliam input credit

Sir, here is the situation,

Construction company, Original works contracts.

Input is claimed on 75% of Eligible purchase in VAT return, whether it is correct or not?

And apart from the above Safety equipments like helmets, shoes,etc., are eligible for Input or not?

IDT Consultant (IDT Consultant) (28 Points)
Replied 31 January 2014

Originally posted by : rajender guptha
	Originally posted by : rajender guptha Can anyone please explain me regarding rule 17 d of AP VAT act on how to cliam input credit Sir, here is the situation, Construction company, Original works contracts. Input is claimed on 75% of Eligible purchase in VAT return, whether it is correct or not? And apart from the above Safety equipments like helmets, shoes,etc., are eligible for Input or not?

Have you opted to pay VAT under Goods Identification method in such works contracts? If you are paying VAT on each goods at the rate as per VAT Schedule, then, you can take Input VAT Credit. In that case, you can take Input VAT Credit to the extent of 75%.

Yes, you can take ITC (Input Tax Credit) on Shoes and Hemlets in Construction Industry.