With regard to ITC on Capital Goods in Delhi
Assume we have Purchased machinery for Rs.1,04,000 on 2nd Sept 2008,in which Rs. 4,000 is the Tax element.
As per the Delhi VAT Act, during this 2008-09, I have to claim ITC on Capital goods as Rs. 1,333
for 2009-10 - Rs. 1,333
for 2010-11 - Rs. 1,333
Can anybody confirm the same.