https://www.taxtmi.com/forum/issue?id=107912 VAT charged on lease rentals for storage tanks used to store LPG for manufacturing may qualify as input tax credit under TNVAT because the tanks are goods used in the production process. Credit availability is subject to the capital-goods/production-use principles in the TNVAT credit framework and to any phased utilisation rules applicable to capital-type assets, even where the asset is leased rather than purchased. en-us Thu, 29 Jan 2015 16:02:23 +0530 Thu, 23 Jan 2025 15:57:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=107912 VAT charged on lease rentals for storage tanks used to store LPG for manufacturing may qualify as input tax credit under TNVAT because the tanks are goods used in the production process. Credit availability is subject to the capital-goods/production-use principles in the TNVAT credit framework and to any phased utilisation rules applicable to capital-type assets, even where the asset is leased rather than purchased. Discussion-Forum VAT / Sales Tax Thu, 29 Jan 2015 16:02:23 +0530 https://www.taxtmi.com/forum/issue?id=107912