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Set off on plant & mahchinary in retail

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Querist : Anonymous

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Querist : Anonymous (Querist)
10 August 2011 we are engage with retails business in maharashtra. we are purchased the Plant & Machinary (Capital Assest)from Maharashtra. As per Rule 53(7A),we taking vat credit after retention 3% on office equipment,furniture. there is not metion Plant & Machinary.

please suggest can I take 100% vat credit on Plant & machinary (capital Assets)
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CA Umesh Sharmapro badge

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CA Umesh Sharmapro badge (Expert)
11 August 2011 Dear,

We will get full setoff on Plant and Machinery. There is no need of retention on Plant and Machinery.

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