VAT gujarat input tax credit disalllowed or what.
my client Purchased local Gujarat Material of 1,00,00,000 (1 crore)
and paid 5% vat on the same 500000
Now he has sold 60,00,000 of material in OGS to Punjab
and remaining 40,00,000 of material to Local Gujarat only.
Now he has billied 2% cst against c form , so he has deposited 120,000 to dept this is okay. but the query is about input tax credit that would be disallowed. the 2% that will be disallowed , please tell me exact amount that will be diallowed. confusion
thanks in advance
final year LLB student