subramanya (Professional) (907 Points)
23 September 2008With 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.
Rabnoor Singh Khanna
(Accountant)
(77 Points)
Replied 24 September 2008
Yes
this procedure is right. Total input credit on capital goods can be divided in 3 parts and claimed in 3 years.
pawan kumar
(Accountant)
(27 Points)
Replied 31 December 2009
Input Tax credit on Capital Goods( Moter Vehicle in Partnership ) in Rajasthan
SANJAY GARG
( MANAGER- ACCOUNTS)
(21 Points)
Replied 20 July 2011
UNDER D VAT ACT, FOR VAT RETURN (DVAT16) WHERE WE CAN SHOW THE TAX CREDIT ON CAPITAL GOODS FOR IIND INSTALMENT
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