Our company is registered in 2009.and it is in under project. to start Commercial production it may took still 6 months.
1.Input State Vat paid on Machinary and Tools. can we claim? if yes when and % of ITC.
LALITH (acCOUNTS OFFICER) (43 Points)
10 April 2012Our company is registered in 2009.and it is in under project. to start Commercial production it may took still 6 months.
1.Input State Vat paid on Machinary and Tools. can we claim? if yes when and % of ITC.
Sunil Kumar G
(AGM Taxation)
(373 Points)
Replied 11 April 2012
Its depend on which state you belogs, please provide your state.
MJ Krishnamurthy
(ACCT(Retd))
(7197 Points)
Replied 12 April 2012
Mr Lalit,
Generally,input credit of VAT paid on capital assets is allowed on notified items and especially after startiing production from those machineries only....MJK
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