Palash Gupta (Student...Hoping to pass Inter) (892 Points)
07 November 2012
Sanghvi Kevin
(Job)
(26 Points)
Replied 08 November 2012
Yes u can claim credit as there is no such provision.
MJ Krishnamurthy
(ACCT(Retd))
(7197 Points)
Replied 08 November 2012
Yes,in a manufacturing process,such a situation occurs. The inputs and the output may be of different tax rates and they can be claimed as such. The net tax can be positive or negative.....MJK
CAclubindia
