An invoice contains the statement as not eligible for input tax. it means it is not eligible to take input or it implies other ? what does it mean
3 Replies
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 04 July 2016
It exactly means what it states. One of the reason I could think of is that there are certain class of items on which input tax credit is not available like petrol/diesel and other items specified in the schedule as per relevant state VAT Act. It seems the items fall under such a category and hence not eligible for input credit.
Saurav Bhattacharya
(9 Points)
Replied 04 July 2016
if you purchase good from other state or from unregistered dealer then you can not eligible for input tax
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