Assessee Can Claim Input Tax Credit for Raw Materials in Electricity Production Despite Exclusion in KVAT Act Section 2(xx).

Assessee Can Claim Input Tax Credit for Raw Materials in Electricity Production Despite Exclusion in KVAT Act Section 2(xx). https://www.taxtmi.com/highlights?id=43129 Input tax credit - raw material purchased for generation of electricity - The assessee is entitled to claim input tax credit. - electricity though included under the First Schedule is specifically excluded from the definition of “goods” as available u/s 2(xx) of the KVAT Act. en-us Fri, 07 Dec 2018 06:50:54 +0530 Fri, 07 Dec 2018 06:50:54 +0530 TaxTMI RSS Generator Assessee Can Claim Input Tax Credit for Raw Materials in Electricity Production Despite Exclusion in KVAT Act Section 2(xx). https://www.taxtmi.com/highlights?id=43129 Input tax credit - raw material purchased for generation of electricity - The assessee is entitled to claim input tax credit. - electricity though included under the First Schedule is specifically excluded from the definition of “goods” as available u/s 2(xx) of the KVAT Act. Highlights VAT and Sales Tax Fri, 07 Dec 2018 06:50:54 +0530 https://www.taxtmi.com/highlights?id=43129