input tax credit
anant jain (accountant) (30 Points)
05 June 2017anant jain (accountant) (30 Points)
05 June 2017
Shubham Gupta
(Business Consultants)
(2077 Points)
Replied 05 June 2017
hello sir,
input on raw material can be claimed only when, our output is taxable to tax,
Even input claim can be taken if, output is charged at 0%, but cannot be claimed if it is Tax Free
CA Shubham Gupta
9968983550
anant jain
(accountant)
(30 Points)
Replied 05 June 2017
Shubham Gupta
(Business Consultants)
(2077 Points)
Replied 05 June 2017
sir,
most of us mix 0% tax and exempt , these both are seperate as per law,
and yes you rightly said that your costing will increase.
i am attaching DVAT list, if your item is under exempt list, then no credit will be available
LIVE Course on Foreign Exchange Management Act (FEMA)(with recording)
LIVE Course on Foreign Exchange Management Act (FEMA)(without recording)