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