Input Tax credit on Capital Goods in Delhi

subramanya (Professional) (907 Points)

23 September 2008  

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.