Vat treatment

[pardeep bisht]

in case of Loan License materials are supplied by party. In some cases material is issued by us to party and are claiming the amount(Net of Modvat and Input credit) through debit note. Request to please confirm if VAT input taken against the same is to be reversed or it is allowed

AI Summary

Clarification Sought on VAT Input Reversal for Materials in Loan License Arrangements with Debit Notes A query was raised regarding the VAT treatment for materials supplied under a loan license arrangement. The question was whether VAT input should be reversed or allowed when materials are issued and claimed through a debit note. The response requested the original poster to share their understanding and current situation to benefit others in the discussion forum.