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.
Regards
Shivani (Learner) (1881 Points)
29 December 2014Dear 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.
Regards
Piyush Tanwar
(Assistant Manager - Accounts)
(1432 Points)
Replied 29 December 2014
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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