https://www.taxtmi.com/article/detailed?id=1212 The Punjab VAT Rules were amended by inserting sub rule (2 A) to rule 21 to limit input tax credit to the tax payable on the resale value of traded goods or sale value of manufactured/processed goods when those goods are sold below purchase or cost price; any excess ITC arising from such sales must be reversed by the taxable person. en-us Thu, 17 Mar 2011 23:46:03 +0530 Thu, 17 Mar 2011 23:46:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=1212 The Punjab VAT Rules were amended by inserting sub rule (2 A) to rule 21 to limit input tax credit to the tax payable on the resale value of traded goods or sale value of manufactured/processed goods when those goods are sold below purchase or cost price; any excess ITC arising from such sales must be reversed by the taxable person. Articles Value Added Tax - VAT and CST Thu, 17 Mar 2011 23:46:03 +0530 https://www.taxtmi.com/article/detailed?id=1212