04-14-2011, 03:49 AM
If I am not getting your question wrong, you are asking about Apportionment of Input Tax?.
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by olympia</i>
<br />If our Output is Rs 100 in which Rs 30 are for zero rated sector(like Textile, Leather etc.) & Rs 70 are for taxable supplies.
My question is should we adjust our 100% input tax against this output or should we adjust input with the proportionate of output tax?
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<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by olympia</i>
<br />If our Output is Rs 100 in which Rs 30 are for zero rated sector(like Textile, Leather etc.) & Rs 70 are for taxable supplies.
My question is should we adjust our 100% input tax against this output or should we adjust input with the proportionate of output tax?
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