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Vat input credit

This query is : Resolved 

15 April 2014 can we take vat input credit on assets which is being use in plant?

15 April 2014 Plant & machinery are normally treated as Capital goods, and ITC is available on capital goods

19 April 2014 YOU CAN TAKE INPUT THAT USED IN AND USED FOR PRODUCTION DIRECTLY.
BUT YOU CANNOT TAKE INPUT ON FURNITURE, STATIONERY, BULB, CFL,AC , COOLER , FANS LIGHTING ETC.

BUT ON RAW MATERIAL, CONSUMABLES, YOU TAKE CREDIT. BUT NOT ON DIESEL FOR DG SET, OR VEHICLE FOR DELIVERY AND BUIDLING MATERIAL, FUEL FOR VEHICLE ETC.




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