Vat input @13.50%

This query is : Resolved

savithri h.r. (Querist)
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08 August 2012 Good afternoon,this savithri, i have one confusion in vat input credit, we have purchase some materials @ 13.50% on dtd: 23.01.11 But now i'm going to take entry against that purchase.

Just i want know shall i take the input credit now?its possible of the same !!!!!!
Kindly help me out for the above ..

Rajnish Singh

Rajnish Singh (Expert)
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09 August 2012 HI SAVITHRI,

YOU HAVE NOT MENTIONED YOUR BUSINESS TYPE ,NEITHER YOU MENTIONED YOUR PURCHASE TYPE .

WELL,.

FOLLOWING RULE HAS TO FOLLOW IN THIS CASE .

# IF YOU PURCHASE THE GOODS IN WHICH YOU DEAL YOU CAN TAKE INPUT AND ADJUST THIS WITH YOUR OUTPUT TAX.

# IF YOU ARE NOT DEAL IN THAT PARTICULAR GOODS OR PURCHASE OTHER THAN BUSINESS ACTIVITES THAN CAPITALISED THEM

IF YOU NEED ANY FURTHER INFORMATION FREELY REVERT ME

THANKS
RAJJNISH