19 April 2010
can we claim input credit on spares used in the process of repair of machinery? If we get a tax invoice from our repairer for repair of such plant and machinery, can we claim a tax credit under DVAT? If yes, is it a capital good or other purchases?
19 April 2010
Depends upon the expense and amount.. If you are capitalising it than u have to consider as capital good and can claim upto 50% in first year and rest in other..or else consider as other purchases.
CAclubindia
