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VAT - Highlights / Catch Notes

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Eligibility to input tax credit - goods destroyed in flood - ...


Input Tax Credit Denied if Dealer Receives Insurance Compensation for Goods Destroyed in Flood.

July 22, 2014

Case Laws     VAT and Sales Tax     HC

Eligibility to input tax credit - goods destroyed in flood - dealer shall be entitled to input tax credit on the goods destroyed in flood. However, subject to rider that if such dealer is compensated by the Insurance Company to that extent credit will not be allowed - HC

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