WE ARE THE DEALER WE PURCHASE MATERIAL WITH VAT & USE THE
SAME FOR LABOUR CHARGES + FINISHED GOODS BUSINESS &
BUSINESS SHARE OF THE SAME IS 85:15, CLEAR ME CAN I TAKE
FULL ADVANTAGE OF VAT CREDIT AGAINST MY VAT LIABILITY
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Answer Posted / sharad nisal
i am not agree with the answer posted by mr amar nayak,
please provide me any provision / section which is clearing
the fact, as if i purchase material with vat of rs 100000 &
used a part of 15% from that for finished product then how
can i get the credit of 100% vat against my vat liability
say as purchase 100000 vat comes 12500 (@ 12.5%) & i sold
material value of rs 50000 on that vat liability is rs 6125
(@ 12.5%) can i adjust full amt of liability against the vat
paid on purchases?
| Is This Answer Correct ? | 2 Yes | 0 No |
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