11 December 2008
Company have purchased truck for suppy of our goods to customers thru EMI payments can we claim input tax credit on this purchase of truck.
11 December 2008
Under KVAT act [Karnataka] input tax credit can be claimed on goods vehicle as it is treated as capital goods U/s 2(7). YOur have to check your states act and check the definition of capital goods defined under the Act.
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