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INPUT TAX CREDIT UNDER DELHI VAT ACT DAVT PPT

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WHAT IS INPUT TAX CREDIT :As per Section 2(1)( r) defines Input tax as follows: 
“input tax” in relation to the purchase of goods, means the proportion of the price Paid by the buyer for the goods which represents tax for which the selling dealer is liable under this Act; 
Claim of ITC : Section 9(1) states that 
A dealer who is registered or is required to be registered under this Act shall be entitled to a tax credit in respect of the turnover of purchase occurring during the tax period where the purchases arises* in the course of his activity as a dealer and the goods are to be used by him directly or indirectly for the purpose of making
  • Sales which are liable to tax under Section 3 of this Act ; or 
  • Sales which are not liable to tax under Section 7 of this Act(i.e. inter‐state sales or exports); 
PPT by CA Sandeep Garg is given below
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Service Tax Rate Chart Wef 01.06.2015 on all Services
INPUT TAX CREDIT UNDER DELHI VAT ACT DAVT PPT Reviewed by RAJA BABU on 9/02/2013 Rating: 5 WHAT IS INPUT TAX CREDIT :As per Section 2(1)( r) defines Input tax as follows:  “input tax” in relation to the purchase of goods, means the...

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