| State |
ANDHRA PRADESH
{Sec.13,22,38 / Rule 16,20} |
ASSAM {Sec.11,14,15 / Rule 9,11,12} |
Full VAT Input Tax Credits - Eligibility / admissibility &
purposes specified |
On ALL VAT-paid goods at point of
purchase on receipt of Tax invoice during Tax period, if such goods are for
use in business; E.T. paid
eligible for adjustment against output VAT. |
On
VAT-paid purchases in Tax period following after receipt of Tax invoice; for
Sale/resale of taxable goods in/from Assam; for Capital goods for manufacture
of taxable goods; Use in manufacture/packing of taxable goods for sale
|
| Conditions / Restrictions |
ITC can be adjusted against Output
VAT or CST; Excess ITC for any Tax period may be claimed in next Tax Return,
with adjustments if any until March on Form 'VAT-200-B'. |
Input
tax rebate can be adjusted against Output VAT;
Excess ITC carried over to next Tax periods.
ITC on Capital goods (other than second hand) available from
commencement of commercial production - to be adjusted against Output tax
over a period of 3 years. |
| Reduction in Set-offs / Reversal of Input Tx credit |
Reduction of 4% of net Purchase
price (i.e. set-off available in excess over 4%) in case of Branch Transfers
outside A.P.
In case of works contract -> ITC limited to 75%. |
Reduction
of amount equivalent to CST that would have been leviable; in case of Branch
Transfers outside Assam of goods purchased or of finished goods out of raw
materials purchased (disposals otherwise than by way of sale). |
| Non-admissibility |
No ITC allowed on Petrol, Motor
spirits, Diesel Oils; on transfer of business; fuels for captive power
generation/power plants; input used in Factory/Office const., generators used for captive
generation; works contracts under composition. |
No set-off allowed
on (i) Capital or other expenditure on land, civil structure or construction;
(ii) Capital goods purchased for use in generation of energy/power including
captive power (iii) Vehicles, Office equipments, furniture, electrical
fixtures; (iv) Composition Tax is paid (v) goods lost/damaged and not
eventually sold; (vi) goods lying unsold at time of closure |
