Input vat on capital goods

This query is : Resolved

Vinay (Querist)
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14 February 2013 OUR MANUFACTURING UNIT IS UNDER CONSTRUCTION ,LOCATED AT LUCKNOW ,U.P.. WE ARE DOING PURCHASES SUCH AS BUILDING MATERIALS, PLANT & MACHINERY, INSTALLATION ITEMS &EXPENSES FOR PLANT &MACHINERY ETC. ALL SUPPLIERS AS ABOVE MATERIALS ARE BEING CHARGED OUTPUT VAT ON THEIR INVOICES.THEY ALL AND OUR COMPANY ARE REGISTERED UNDER U.P.VAT DEPARTMENT.

ARE WE ENTILE TO AVAIL INPUT VAT UNDER CAPITAL GOODS EXPENDITURE.

PLEASE CLEARFY IT.

VINAY KALE

CA Lokesh Pokharna

CA Lokesh Pokharna (Expert)
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14 February 2013 yes input credit of these capital items available ,credit admissibility depends on up vat act whether in half yearly mode or monthly mode...