11 May 2013
Respected sir/madam, I want to know that input credit of vat is available or not for capital goods purchase and if available than at what percentage. please reply who knows the answer.
11 May 2013
in different state laws different definition are given for CAPITAL GOODS, so 1st you have to check that in your home state what constitutes capital goods. next thing is the input credit installment system also depends on the vat law of the state. in some states 1/3rd every year, and somewhere 100% in year of purchase itself.
CAclubindia
