23 September 2011
Dear Sir, If we purchase a computer for office use and pay VAT. Can we avail input tax credit and also tell me if it will be adjusted one time or in several installments.
26 September 2011
Yes input can be taken but only 50% in the first year and remaining in the subsequent year but if the asset is removed with the purchasing year than 100% can be taken as input credit.
CAclubindia
