TaxTMI 
TaxTMI 
similar to TED refund, any VAT refund is applicable in case of local procurement of CG under EPCG licence?
the state is Tamil Nadu.
pl clarify.
regards
J Ramamurthy
7299162725
Epcg - local procurement
22 Jun 2015 
4 Replies 
2270 Views Asked by
Input Tax Credit on EPCG local procurements permitted for plant and machinery used in manufacturing, with phased recovery.
Input Tax Credit is available on local procurement under the EPCG scheme for goods-including raw materials, incidental goods, packing materials and plant and machinery-when used in manufacture for domestic sale, interstate sale or export. Capital goods installed in an R&D division are treated as part of manufacturing and qualify for credit. Where capital goods qualify, the credit may be claimed in stages, with an initial portion in the first year and the balance over subsequent years, subject to applicable state VAT/CST rules and compliance. (AI Summary)
Input Tax Credit is available on local procurement under the EPCG scheme for goods-including raw materials, incidental goods, packing materials and plant and machinery-when used in manufacture for domestic sale, interstate sale or export. Capital goods installed in an R&D division are treated as part of manufacturing and qualify for credit. Where capital goods qualify, the credit may be claimed in stages, with an initial portion in the first year and the balance over subsequent years, subject to applicable state VAT/CST rules and compliance. (AI Summary)