Under which section can Hotel Industry can avail Input credit on VAT paid on fixed assets. When can the Co., claim the Input credit
Can VAT paid on Fixed Assets can be taken credit for Hotel
pavan (Finance Manager) (41 Points)
15 December 2008
Ameet
(L)
(1678 Points)
Replied 26 December 2008
Rule 4(a) of CENVAT Credit Rule, 2004 . u can get credit 50% for the same year and 50% in the next year.
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Survey, Search and Seizure under Income Tax Act 1961