Wb vat tax
VARUN GUPTA
(Querist) 10 October 2013
This query is : Resolved
One of my Party is engage in the manufacturing of "Protective RCC Cover with two doors of X-Mas Tree of Gas". Therefore, for casting purpose, it purchase "M40 SCC" & for it, party pays Vat @ 14.5% on it. So, Can the Input Vat Credit can be taken from the vat paid on account of purchase of "M40 SCC Cover" against the Sale of "Protective RCC Cover with two doors of X-Mas Tree of Gas"???
Is "M40 SCC" hit by the Negative List under WB Vat according to which Input vat credit cannot be taken on some goods??? If yes, then it also applicable to above party in this case???
R.K Nanda
(Expert) 10 October 2013
contact tax lawyer.