Please Help: input credit on in house use of petrol
Posted Date : 13-Jul-2012 , 09:24:10 am | Posted By: Kiran S Soni
Category :
VAT | Answers :
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Comments :
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A sugar factory has its own petrol pump used to sell petrol. It also used petrol and deisel for factory vehhicles and claim input vat credit on the same. my query is whether input vat credit can be claimed on such in house use of petrol . |
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Answers:
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 Answer by: Krishna Chandra Santi |
| No. as petrol is consumed in your factory vehicle,input credit cannot be availed.
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| Answer by: Surendra Kumar Dash |
| No
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| Answer by: Krishna Chandra Santi |
| Input VAT on purchase of petrol for in house use cannot be adjusted against the output VAT on sale of petrol from petrol pump.
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| Answer by: Mrattunjay |
| Hello As other colleuges had explained VAT Credit can not be claimed for petrol in this situation.
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| Comments |
| Posted By : CA ISHA MARFATIA |
13-Jul-2012, 11:03:48 |
| Yes. It can claimed input VAT credit. |
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