Input tax on capital goods
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 February 2014
we are dealing in belt, now purchased a belt stand costing Rs.17175/- (including KVAT @ 14.5%) for display purpose, can we take input tax credit .
22 February 2014
Capital goods are not everything which you capitalize, there is specific definition of Capital goods in VAT.
you must refer the definition of CG in state vat act.
you must refer the definition of CG in state vat act.
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