If a company sold any capital goods to its employees then it will charge RVAt or not????????????
4 Replies
vikas Agarwal
(Article & Ca Final Student)
(125 Points)
Replied 23 September 2011
no, on sale of capital goods Rvat Is Not Charged evan the goods sold to enyone
Becoz Vat Input Can't be taken On the Capital Goods
surender
(Manager Accounts)
(149 Points)
Replied 24 September 2011
Yes agree with vikas. There is no VAT liability . Bcz. VAT Input not available On the Capital goods.
Nitin Grover
(CS)
(1228 Points)
Replied 26 September 2011
Dear Shivani
In my views its Applicable because whenever i purchase Capital goods i.e Machine i take input claim.
In available only on Manufacturing unit because in trading no need of machine. so whenever you sale it Tax is paybale.
Regards
Jinesh Aggarwal
(Service Man)
(45 Points)
Replied 26 September 2011
I agree with Nitin Grower.......
we can take credit of input on capital good & we can take credit of input in three year (I.e.36 Month)
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