Vat clarification

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

10 March 2012 I need some clarification regarding VAT for the following.
Hi Experst pl help me
We have purchased the spares and accessories paid VAT @ 5% / 14.5% and
our sale commodity rate of VAT is 5%. Whether treat it capital goods
or input, if treat capital goods what % is eligible for us to take
credit.

In this connection, Commissioner of Commercial Taxes, Chennai give the
clarification as spares and accessories are treating as an input and
avail the credit in the same month.

Kindly give the correct solution in this regard.

PUNIT JAIN

PUNIT JAIN (Expert)
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10 March 2012 Clairification by CCT is correct. Spares and accessories will be treated as inputs and ITC can be availed on monthly basis.

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Querist : Anonymous

Querist : Anonymous (Querist)

13 March 2012 Thank you very much for your reply in this regard. further i request u to please provide the acts / sections, enable us inform to the local sales tax officials.

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Querist : Anonymous

Querist : Anonymous (Querist)

22 March 2012 Thank you very much for your reply in this regard, further i request u to please provide the acts / sections enable us inform to the local sales tax officials.