01 November 2013
As they are not machineries used for production of taxable goods,input paid on their repairs and purchase can not be claimed as set-off.....mjk
02 November 2013
In Maharashtra full input credit of VAT on Repairs of Furniture is allowable. if you have not capitalised the Repairs.
3% retention is required to be applied on A C Purchase (i.e if VAT@5% of Rs. 10000/- is levied ) then Rs 6000( 3/5) is not available balance 4000 can be claimed as set off. (see Rule 53 (7A) of the MVAT Rules
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