Input tax credit - sale or not - The main thrust of the argument ...

VAT and Sales Tax

May 21, 2021

Input tax credit - sale or not - The main thrust of the argument of the petitioner is that since the said transaction is an outright sale, 100% ITC has to be admitted. This argument of the petitioner cannot be appreciated for the reason that even if the user of spare parts and lubricants in the works contract amounts to sale, still the statute restricts the ITC to 75%. - HC

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Input tax credit - sale or not - The main thrust of the argument ...

VAT and Sales Tax

May 21, 2021

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