value added tax

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

09 July 2010 i want to know weather input tax credit is available for capital goods purchase from local market ? if yes when we can claim input tax credit for that capital good, weather immediately or later ?

CA BIREN SHAH

CA BIREN SHAH (Expert)
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09 July 2010 input tax credit is available in 36 installment.

Querist : Anonymous

Querist : Anonymous (Querist)

09 July 2010 but when we can claim these 36 installments ?

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Querist : Anonymous

Querist : Anonymous (Querist)

09 July 2010 sas

Jitesh S Jain

Jitesh S Jain (Expert)
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09 July 2010 Under Which State VAt ACT??

Set Off Rules in all the States are diff.

Querist : Anonymous

Querist : Anonymous (Querist)

10 July 2010 .

K Bala Kishan

K Bala Kishan (Expert)
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16 July 2010 VAT ITC on Capital goods depends on state to state. Your query is related to which state? Plz specify.

Like in Tamilnadu, Capital goods can be claimed in 36 instalments.
In Andhra, there is no specifiic capital goods and other goods. IT can be claimed as such other materials.