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VAT ON CAPITAL GOODS( WEIGHTMENT BRIDGE)

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(Querist)
23 April 2011 We are steel manufacturer and purchase a weightbridge and paid vat on that purchase. Can we take credit of vat paid for the same.
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Ram Avtar Singh

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Ram Avtar Singh (Expert)
23 April 2011 You can take 33% in every year. but you will prove its use for your own purpose.
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rajneesh sharma

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rajneesh sharma (Querist)
23 April 2011 Sir, thanks for ur valuable reply. The weightbridge is inside the unit.

is 77% of the balance vat is non-recoverable.
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Ram Avtar Singh

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Ram Avtar Singh (Expert)
23 April 2011 33% in this year and 33% next year and 33% another next year credit will be allowed.
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rajneesh sharma

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rajneesh sharma (Querist)
23 April 2011 SIR WE ARE FROM PUNJAB. AND I AM ASKING FOR THE FINANCIAL YEAR 2010-2011. SO IS IT APPLICABLE HERE. BECAUSE WE ALREADY TAKE THE FULL CREDIT OF ALL CAPITAL GOODS PURCHASED EARLIER.

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