Input VAT on Capital Goods

L KANAGARAJ (Assistant Manager-Finance)   (615 Points)

29 December 2009  

Sir,

If the Company purchase a machinery on 02.03.2009 for Rs. 1,04,000/ including VAT part of Rs.4000.

How can we avail the Input VAT On capital Goods of Rs.4,000

whether 50% in March'09 VAT Return (1st year i.e.08-09) and Balance 50% in March'10 VAT Return( 2nd year i.e 09-10)

(OR)

50% in March'09 VAT Return (1st year i.e  08-09) and Balance 50% in April'09 VAT Return (2nd year i.e 09-10)

Guide me as per Tamilnadu VAT

Thanks