Srividya N (Functional Experience Design) (33 Points)
11 March 2015Help me in understanding the behavior of capital goods for the state of Gujarat.
When can the tax claim be taken?
monika ahuja
(Student CA Final )
(85 Points)
Replied 11 March 2015
Credit on capital goods can be claimed 100% in year of acquisition.
But
It will be utilised in equal 36 installment for every month.
Srividya N
(Functional Experience Design)
(33 Points)
Replied 11 March 2015
How can the ITC be taken on purchase of capital goods for the state of Haryana?
Also, in VAT Return form R1, there are asking for the purchase of capital goods used in:
a) Mining
b) Manufacture of exempted goods
c) telecommunication network
d) generation of electricity.
Where does the the capital goods that are used in the manufacture/production get captured?
CAclubindia
