A registered dealer exported goods outside India. He paid ₹15,000 as VAT on raw materials used in manufacture of goods exported. The VAT so paid is— (A) Not eligible for refund (B) Not eligible for adjustment against inp

CS Executive · Tax Laws and Practice · PYQS · June 2016
A registered dealer exported goods outside India. He paid ₹15,000 as VAT on raw materials used in manufacture of goods exported. The VAT so paid is— (A) Not eligible for refund (B) Not eligible for adjustment against input tax (C) Deductible as business expenditure (D) Eligible for refund or adjustment against input tax.
(A) Not eligible for refund
(B) Not eligible for adjustment against input tax
(C) Deductible as business expenditure
(D) Eligible for refund or adjustment against input tax.

Answer & Explanation:

Correct Answer: Option (D)

Official answer key: (D).

Topics: VAT

Open in Interactive Practice Hub · Full Practice Hub · Chapter Weightage · More in this subject

Related Questions in this Topic