INPUT TAX CREDIT, VAT + CST

[GOWLI MALLIKARJUNA]

DEAR SIR

WE ARE THE MANUFACTURES OF SPONGE IRON IN ANDHRA PRADESH, STARTED OUR COMMERCIAL PRODUCTION ON 31.03.2011 AND SOLD THE GOODS ON CONSIGNMENT SALES( ONLY ONE TRANSACTION WORTH OF RS.3.50 LACS). WE CAN CLAIM FULL INPUT TAX CREDIT ON PURCHASE OF CAPITAL GOODS WORTH OF 30.00 LACS.

PLEASE ADVISE US.

Posts / Replies

[Pradeep Khatri]

Dear Gowli,

You can check the ITC Rules of KVAT Act in this regard.

Regards,

Sameer Malhotra - Consultant

YAGAY and SUN

(Management, Business and Indirect Tax Consultants)