VAT Credit on Capital Goods for trader
This query is : Resolved
02 November 2009
Can a trader claim Cenvat Credit on Capital Goods (Honda Civic) Purchased for office use in west Bengal.
Regards
Rakesh Mittal
rakeshmittal@jspl.com
Regards
Rakesh Mittal
rakeshmittal@jspl.com
02 November 2009
No, Vat credit on capital goods is available only if such goods are used in production of taxable items on which output vat is payable.
02 November 2009
it means trader can not utilised Cenvat credit of Capital goods.He can take credit only on Inputs ?
02 November 2009
yes
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