INPUTVAT CREDIT ON CAPITAL GOODS IN ANDHRA PRADESH-

Actually VAT on capital goods credit can be taken 50% on credit on the same year when it is purchase and the next year the balance can be cliamed.

why not we claim it in same year

why not we claim it in same year

In Andhra Pradesh, there is no separate definition of Capital Goods and any rules framed for it. Whether capital goods, packing materials, raw materials, what ever..other than negative list of goods, any thing can be taken for claiming input tax credit in Andhra Pradesh and there is no restriction of period as such. But the purchase must be on or after 1st April 2005 onwards. Hope now its clear. The differentiation of capital goods and other goods is there in Tamilnadu and nothing in Andhra Pradesh as such

SHALL WE TAKE INPUT VAT ON CAPITAL GOODS I.E. FIXED ASSETS

any body plz tel me if we purchased fixed assets in the current year

on that purchases vat will take as a input vat in the C.yr or not

and what is the amount as i take in fixed assets

 plz help me