Investor Presentaiton
Section-8: Tax Credit Not Allowed
(k) Import or purchase of agricultural machinery or equipment subject to sales tax at
the rate of 7% under Eighth Schedule to this Act; and
(1) Such goods and services which, at the time of filing of return by the buyer, have not been declared by
the supplier in his return or has not paid amount of tax due as indicated in his return.
(m) Supplies / Services made to unregistered person for which sales invoices do not bear NIC or NTN of
the buyer
(n) Tier- retailer failed to integrate his outlets, the adjustable input tax upto 65% shall not be adjustable
(o) Sales made to unregistered person exceeding Rs.10 million per month or Rs. 100 million in financial
year. Exception to some class of persons.
(p) Payment for purchase exceeding value of Rs.50,000 if not made through banking instrument in
favour of the supplier from the business bank account of the buyer.
MOORE Shekha Mufti
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