Please Help: input credit on in house use of petrol
Posted Date : 13-Jul-2012 , 09:24:10 am | Posted By kiran s soni
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 .
Category : VAT | Answers : 4 | Comments : 2 | Hits : 242
Answers
Answer By: Krishna Chandra Santi
No. as petrol is consumed in your factory vehicle,input credit cannot be availed.
Answer By: Surendra Kumar Dash
No
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.
Answer By: Mrattunjay
Hello As other colleuges had explained VAT Credit can not be claimed for petrol in this situation.
Comments
CA ISHA MARFATIA
13-Jul-2012 , 11:03:48 amYes. It can claimed input VAT credit.
Surendra Kumar Dash
13-Jul-2012 , 02:37:23 pmHow dear Isha?