Input Tax Credit on Furnace Oil Qualifies for ITC Claim in Manufacturing Process Under New Clarification.

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....Reversal of Input Tax Credit (ITC) on furnace oil and LSHS oil - the furnace oil was used in the process of manufacturing of the final product and it has to be treated only as an input tax credit and that therefore, the input tax paid on the purchase of furnace oil can be claimed as input tax credit - HC....