Input Tax Recovery

We have input tax credit of AED 1 million on the construction of  48 residential units and 2 commercial units before January 2020. We got registration on January 2020 and our First Tax period is January 2020 to March  2020. we had leased out 12 residential units and 2 commercial units during this period.

My question is that can we take full input tax credit of AED 1 million in first VAT Return itself or it will be on pro rata basis ?

Rahib Tinwala

15/05/2020 18:26:02

2 Like 0 Reply Report Share