Eligible purchases for availing input tax credit
1) for being used in the execution on works contract.
2) for making zero - rated sales
what is the meaning of "execution of works contract" and "zero-rated sales"?
2 Replies
s.vaidyanathan
(CA )
(119 Points)
Replied 09 September 2010
Hi Friend,
Zero rated sales in VAT means, the rate of Vat for the sale shall be nil and still u can claim the input credit.
S.V
Bhavik D Shah
(Not Done)
(21 Points)
Replied 14 September 2010
Due Date of Payment of VAT and filling of VAT Return
1. For Newly form Company and Proprietory Concern
2. For Existing Company and Proprietory Concern
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