Dear All,
we have purchased old machinery and a old car .....can we take input credit or what the treatment for this...
Thanks for all
2 Replies
CA Lokesh Pokharna
(CA (Ahmedabad Bhilwara Chittorgarh))
(4128 Points)
Replied 06 October 2012
credit on machinary can be taken
car's are generally not eligible for credit, but if used extensively in mfg than credit can be taken
raju
(practitioner)
(31 Points)
Replied 08 October 2012
No cars input tax restricted item vide vth sch of Kvat act 2003
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