Dear sir/madam,
pls. provide process of vat refund of capital goods
thnks & regards
4 Replies
Rakesh
(Executive- Commercial & CMA final student)
(179 Points)
Replied 03 October 2011
U can't claim refund of VAT..However u may claim input credit over a period of 36 months on capital goods
Awni Ranjan
(Freelance Consultant)
(77 Points)
Replied 08 October 2011
I purchased an automotive part from authorised dealer in Jaipur, Rajasthan where the dealer charged me Rs 516.00, including VAT @ 15%, Service tax @ 10% and Edu Cess on Service Tax @ 3%, while the price tag by the manufacturer in Gurgaon , Haryana displayed Rs 366.00 (including of all taxes)
Is it not a case of double taxation? Please elaborate.
Harshal Fifadra
(Chartered Accountant)
(1489 Points)
Replied 11 October 2011
It is not a case of double taxation rather it is a case of MULTI POINT TAXATION . It would include INPUT TAX CREDIT CONCEPT (ITC) also . The persons selling the goods would be eligible for ITC provided the conditions in relation to the ITC are satisfied .
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