https://www.taxtmi.com/article/detailed?id=12049 Under the UP VAT regime, purchased inputs used to manufacture taxable goods generally attract input tax credit subject to proportional apportionment when exempt or non VAT outputs are produced; however, a statutorily prescribed deeming explanation treats exempt goods produced as by products or waste as if the inputs were used only for taxable manufacture, precluding proportional disallowance or dispute over full credit on that basis. en-us Sat, 18 Nov 2023 10:09:26 +0530 Sat, 18 Nov 2023 10:09:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=12049 Under the UP VAT regime, purchased inputs used to manufacture taxable goods generally attract input tax credit subject to proportional apportionment when exempt or non VAT outputs are produced; however, a statutorily prescribed deeming explanation treats exempt goods produced as by products or waste as if the inputs were used only for taxable manufacture, precluding proportional disallowance or dispute over full credit on that basis. Articles Value Added Tax - VAT and CST Sat, 18 Nov 2023 10:09:26 +0530 https://www.taxtmi.com/article/detailed?id=12049