Input credit

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Guest

Guest (Querist)

30 July 2012 Sir,

We are manufacturing unit, Shall we take input credit vat for tools purchase for quality laboratory. (vernier caliper, gauge etc.,)

Thanking you

RENGARAJ R.K

RENGARAJ R.K (Expert)
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30 July 2012 The following capital goods and tools are eligible for ITC under TNVAT Act. If the question relates to tamilnadu, it is welll and good.

Capital goods” means, –
a) plant, machinery, equipment, apparatus, tools, appliances or
electrical installation for producing, making, extracting or
processing of any goods or for extracting or for bringing about
any change in any substance for the manufacture of final
products;
b) Pollution control, quality control, laboratory and cold storage
equipment;
c) Components spare parts and accessories specified at (a) and (b)