21 September 2011
In AP VAT there is no concept of Capital Goods or other Goods. However a negative list has been provided in Rule 20 (2) of AP VAT Rules read with Section 13 of the APVAT Act. So if input credit is available otherwise on any goods , it doesnot make any differene even if it is capital goods and 100% input credit can be claimed in the same year. In case of Works contractor the Credit is available to the extent of 90% only.
We would be able to provide u precise opinion if u mention the nature of ur company business and the description of goods under question.
CAclubindia
