We purchae Light Diesel Oil (LDO) for Bioler used for production can the Vat amount on purchase be utilised or there is any restiction on this.
3 Replies
sivaram
(Asst Mgr-Taxation)
(6918 Points)
Replied 11 September 2009
no you cannot take vat input credit
Naveen
(Finance)
(35 Points)
Replied 11 January 2010
Please let us know , sould vat tax be calculated on Freight & Insurance if mentioned in Invoice . The freight & Insurance is to customers account i.e paid on their behalf and the actuals mentioned in the bill for collection.
sivaram
(Asst Mgr-Taxation)
(6918 Points)
Replied 11 January 2010
no vat is not calculated on actual freight and insurance
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