Dear Friends
If a dealer in paints who sell paint products buy a computer for his shop use, then can he claim VAT paid on the Computer as his input VAT against the output vat he will collect from customers on selling paint.
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Input vat on fixed assets
Replies (1)
Under Delhi VAT,
* Only if you are the dealer of taxable commodity, then you can claim input tax credit on such capital goods used for office purpose only, in the following manner:-
** 1/3rd of the input tax on such capital goods arising in the same tax period in which it is bought.
*** Balance of 2/3rd input tax in equal proportions in corresponding tax periods, but within two immediately successive financial years.
Regards
Piyush Tanwar
Tiwari & Associates
Mobile - 09717468521
Email - imcoolpiyush.tanwar @ gmail.com
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