VAT INPUT TAX CREDIT
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 September 2010
A manufacturer has purchased plant and machinery of Rs.50,00,000/-. The manufacturer has made foundation of cement, sand, grit, kapchi for installation of plant and machinery and spent Rs. 5,00,000/-. Further the manufacturer has also incurred expenditure towards electrification. The manufacturer has capitalized expenditure of installation and electrification and debited to machinery account. Whether Input Tax Credit is available on Installation and Electrification expenditure?
29 September 2010
Input Tax Credit is available on Installation
No input credit allowed on electrification
No input credit allowed on electrification
24 October 2010
In Maharashtra input vat credit is available on electrification work.
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