ITC on repair / maint and consumable goods

[vikram singh]

Dear Expert,

i have some ambiguity in vat ITC on repair / maint and consumable goods. Can we take input on these or not ?

Kindly suggest...

Regard

Vikram

AI Summary

Eligibility of Input Tax Credit on Repair, Maintenance, and Consumables Explained; Conditions Include Tax Invoice and Business Use A forum participant inquired about the eligibility of claiming Input Tax Credit (ITC) on repair, maintenance, and consumable goods under VAT laws. An expert from a consultancy firm explained that ITC can be availed on consumables depending on their nature and usage. Another expert, a Chartered Accountant, clarified that ITC can be claimed on such goods if they are used in business operations, provided certain conditions like having a tax invoice are met. He emphasized that goods used for machinery repair are eligible for ITC as they contribute to manufacturing taxable goods.