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Input tax on capital goods

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Querist : Anonymous

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Querist : Anonymous (Querist)
21 February 2014 we are dealing in belt, now purchased a belt stand costing Rs.17175/- (including KVAT @ 14.5%) for display purpose, can we take input tax credit .
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Vishnu Saboo

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Vishnu Saboo (Expert)
22 February 2014 Capital goods are not everything which you capitalize, there is specific definition of Capital goods in VAT.
you must refer the definition of CG in state vat act.

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