Reduction of vat credit
jay
(Querist) 12 April 2012
This query is : Resolved
As per Gujarat vat notification dealer in gujarat has to reduce vat credit at 2% if he do OGS sale.
My querry is that when i calculate credit reduction by using proportionate method which one persentage i have to take form following
1) Ogs sale with c form
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Total sale
2) (Ogs sale with c form )+ (ogs sale without c-form)
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Total sale
I think 1st one should be adopted as per gujarat govt. intention...
what should be done
C. P. CHUGH
(Expert) 20 May 2012
Your facts are not clear. Disallowance of input tax credit is governed by certain provisions and are subject to certain conditions by different State VAT Acts. Provisions under the Gujrat VAT shall also be subject to certain conditions. Pls read those conditions carefully and find out whether your case falls in any of the category of input credit reversal/disallowance.
