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Answer to FAQ
FAQ: Will input tax credit be available on capital goods used in the execution of work contract?
ANs: No input tax credit will be available on capital goods, which are used in relation to supply of labour or service in the execution of a works contract. But where capital goods (other than those included in the negative list) notified as per SRO 324/2005 dated 31.03.05) are used to convert any material to the form in which it is incorporated in the works contract or for storage of the goods transferred in the execution of works contract, input tax credit will be available.
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