vat ,,,,,,,,,,

This query is : Resolved

kaushal (Querist)
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09 September 2008 we purchased computers on which vat was levied .
can we claim credit over such vat amount

or if it cannot be treated as as credit
can we claim as expenses

Guest

Guest (Expert)

09 September 2008 normally credits of vat paid on computers & printers are not allowable.

And the computer will be an asset and you have to provide depreciation on it and depreciation will be allowable as expenditure.

Rohit

Taxguy

Taxguy (Expert)
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09 September 2008 You should be able to claim input credit on that purchase, provided you are using it for business purpose and the provisions of section 11 which prohibit taking credit, permit the credit.

Depreciation is different and as Rohit says.

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Taxguy

Taxguy (Expert)
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09 September 2008 By the way which State, does the transaction relate to.