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CENVAT Credit

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26 May 2008 Sir...Shall i take capital goods VAT as CENVAT credit. Can i adjust the same against the sales tax payable.
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CA. Yayati Tyagi

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CA. Yayati Tyagi (Expert)
26 May 2008 i think it will depend on rules of ur state's vat act. i have read that in most of states, credit of vat on capital goods is allowed over 36 months period.
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sakthi

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sakthi (Querist)
26 May 2008 i have asked one auditor, he said that VAT on capital goods are not availed as CENVAT credit. For ur inform. our entity is in bangalore.
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CA. Yayati Tyagi

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CA. Yayati Tyagi (Expert)
26 May 2008 first u stop comparing both. they are different. then, consult ur vat advocate abt Karnataka Vat Act regulations.

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