Input Credit
This query is : Resolved
19 April 2009
Is VAT paid on Plant & Machinery eligible for claming Input Credit?
19 April 2009
Vat Provisions varies from state to state.
In Delhi, Vat paid on Capital goods is eligible for credit equally in three years.
However, it is eligible for credit in two years
In Delhi, Vat paid on Capital goods is eligible for credit equally in three years.
However, it is eligible for credit in two years
19 April 2009
Yes.
You can unless the Plant is used in manufacture of tax-free goods in that case, ITC will be avialable after a reduction of 3% under MVAT Act.
You can unless the Plant is used in manufacture of tax-free goods in that case, ITC will be avialable after a reduction of 3% under MVAT Act.
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