Question
Mrs. X opted for the composition scheme at the time of registration and purchased a plant and machinery for Rs. 30,00,000 and paid input tax
Mrs. X opted for the composition scheme at the time of registration and purchased a plant and machinery for Rs. 30,00,000 and paid input tax at a rate of 18% tax credit was not allowed but after a period of 9 months and 10 days, the dealer has opted for payment under the normal scheme. Compute the amount of tax credit allowed to Mrs. X.
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
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