12-14-2008, 07:23 PM
mr kamran has provided the practical knowledge.
this section is regularly examined. basically, you cannot claim input on items that are not used exclusively for making taxable supplies. a very crude example (from the exam paper no less P, assuming a company manufactures widgets, input tax paid on a box of tissue papers cannot be claimed since it not used in manufacturing.
hence your contention is incorrect,
"Does omission of "FOR THE MANUFACTURE OR PRODUCTION", means any expense other than manufacturing and production such as courier, hotel stay, general repairs all can be used to claim input tax."
its the other way around.
this section is regularly examined. basically, you cannot claim input on items that are not used exclusively for making taxable supplies. a very crude example (from the exam paper no less P, assuming a company manufactures widgets, input tax paid on a box of tissue papers cannot be claimed since it not used in manufacturing.
hence your contention is incorrect,
"Does omission of "FOR THE MANUFACTURE OR PRODUCTION", means any expense other than manufacturing and production such as courier, hotel stay, general repairs all can be used to claim input tax."
its the other way around.
