Can an input credit on ST paid on quotation or estimate bill can be availed and whether the exp can be allowed as deduction on quotation basis under IT act in the absence of original invoice.
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 08 April 2015
I think the answer is no because quotation/estimate does not justify service availed.
As per rule 9 of CCR, cenvat credit can be taken based on the any of the following documents:
LIVE Course on Foreign Exchange Management Act (FEMA)(with recording)
LIVE Course on Foreign Exchange Management Act (FEMA)(without recording)