25 October 2010
At the time of construction , there is no stock, so you cannot take the input credit.
In case capital asessts , availability of VAT credit is doubful in some states, So you please check up first, since we donnot the state , your plant situated.
In that case assets will be capitalized nit of VAT. And VAT credit will be kept as input credit available. But this is not a good idea.
CAclubindia
