Vat credit on car (capital asset)
This query is : Resolved
28 October 2011
we have engaged in retail business.
We have purchase a car for business use & capitalized under the group of plant machinery, can I take vat credit on car.
We have purchase a car for business use & capitalized under the group of plant machinery, can I take vat credit on car.
28 October 2011
Input Vat credit not allowed. only on commercial vehicle vat allowed.
28 October 2011
No you cant take credit
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