Vat Credit

CA Raghavender (CHARTERED ACCOUNTANT) (305 Points)

01 August 2009  

Hai! All

I hv doubt about VAT Credit, Our client providing job work to ITC Ltd, he used to take VAT Credit On Purchase of Machinary Consumobles(which is used in  Processing not Raw material) and set off on sale of refractions, is it  right or wrong?

If yes wt is the Criteria for VAT Credit availability?

Thanks & Regards,