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VAT Input

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(Querist)
18 December 2010 Dear Sir,

One person purchase a vehicle for 60 Lac in which 6 Lacs is as VAT@12.5% on firm name.

Is there any ITC credit for that value of VAT ??

If yes then what will be % for ITC ??

Thanks,
Krishna
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CA AYUSH AGRAWAL

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CA AYUSH AGRAWAL (Expert)
18 December 2010 Actually VAT Input Credit is Available on Capital Goods Purchased Also in Most of States but Differ According to State Sales Tax Rules(VAT).

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