CAN GIVE ME GAUDANCE WHETHER VAT CREDIT ON GAS CONSUMPTION USED FOR THE PURPOSE OF JOB WORK MANUFACTURING WILL BE ALLOWED TO INDUSTRY IF THAT INDUSTRY IS DOING ONLY JOB WORK ACTIVITY.
manish agrawal (Job) (28 Points)
27 March 2009CAN GIVE ME GAUDANCE WHETHER VAT CREDIT ON GAS CONSUMPTION USED FOR THE PURPOSE OF JOB WORK MANUFACTURING WILL BE ALLOWED TO INDUSTRY IF THAT INDUSTRY IS DOING ONLY JOB WORK ACTIVITY.
CA Nitin Wadhwani
(Chartered Accountant)
(4469 Points)
Replied 27 March 2009
No kind of input credit is allowable as per rule 53 if the dealer is engaged only in job-work.
praveen
(Chartered Accountant)
(6971 Points)
Replied 27 March 2009
yeah a dealer always can opt for compostion in which case he will not be given any credit of input tax.
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