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Answer to FAQ
FAQ: I am manufacturing goods falling under the first schedule and third schedule to the VAT Act. Can I claim and use common inputs set off in respect of input tax paid for the purchase of inputs for the manufacture of goods included in the first schedule against the output tax payable for the goods included in the third schedule?
ANs: No. As per section 11(5) (c) no input tax credit is allowable for goods used in the manufacture or packing of goods included in the first or fourth schedule to the Act. In such cases input tax attributable to taxable and exempted goods will be apportioned on the basis of the ratio of the turnover of such goods and the portion attributable to taxable goods alone should be claimed.
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