Set off on capital godds
This query is : Resolved
14 August 2012
My dealer has purchased a computer(capital Good) he is registered under mvat act .how much amount he can set off .vat amount 2952
14 August 2012
Vat on capital goods is allow to avail in 3 equal yearly installments starting from next financial year. but vat is only allow to avail on machinery or capital items which is using for manufacturing purpose...
21 August 2012
I think you are asking for Maharashtra State, in Maharashtra you can take full setoff of VAT on capital goods , subject some restriction of retention as per rule 53.
On Computer you can take credit after retention at 3% of Taxable Value.
On Computer you can take credit after retention at 3% of Taxable Value.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- Should I report my US salary for January, February, March in Schedule FA?
- GST ON EXPORT COMMISSION
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Sale of property furniture sale
- Confusion around Form 26QB fields
- Adjustment entry in the case of Individual and HUF on 31st March
- Stock difference tax applicable on composite rate or normal rate
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
