10 March 2013
Mr Raju, There is col 9 in VAT 100 form. Under this column space is provided to mention purchases made by paying VAT at various rates like 1%,2%,4%,5%,5.5% 13.5%,14% and 14.5%.Put your purchases of fixed assets also along with other purchases as per the rate VAT paid in the purchase bills.The sytem will automatically calculate the input tax paid in each category. In the same group enter interstate purchases in 9.8.1for with 'C' form and 9,8,2 for without 'C' form.If the purhase of assets are listed in the govt notification for claiming ITC then nothing to be done.If you are buying assets which are not allowed for ITC(input tax credit) then mention vat paid on them under the head 10.5 (ineligible ITC).....MJK
CAclubindia
