Input tax credit unavailable for service providers on VAT-paid stock at transition due to VAT covering only goods. A service provider is not entitled to input tax credit on inputs held as stock on the appointed day for which VAT was paid, because VAT applies only to ... Summary
Input tax credit unavailable for service providers on VAT-paid stock at transition due to VAT covering only goods.
A service provider is not entitled to input tax credit on inputs held as stock on the appointed day for which VAT was paid, because VAT applies only to goods and does not cover services under the transitional treatment described in the Draft Model GST FAQ.
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