Tuesday, November 15, 2011

Which purchases would be qualified for input tax credit?

Which purchases would be qualified for input tax credit?

Input tax credit will be available for the taxable goods purchased for the purpose of:
1. Sale or resale within the State
2. Sale in the course of inter state trade or commerce
3. Sale in the course of exports
4. Use as raw materials, processing materials or processing materials in the manufacture of taxable goods
5. Use as packing of goods
6. Sale to SEZ/EOU
7. Transfer out side the State

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