can you debate about that we can cliam tax credit on capital goods
1 Replies
Reena Verma
(CA Finalist)
(417 Points)
Replied 18 December 2010
THE DEALER ENGAGED IN DOING BUSINESS CAN CLAIM TAX CREDIT ON FULFILLMENT OF FOLLOWING CONDITIONS:
1] VAT MUST BE PAID.
2]SHELF LIFE OF THE ASSET SHOULD NOT BE LESS THAN 3 YEARS OR 36 MONTHS.
3]THE CAPITAL GOODS MUST BE DIRECTLY RELATED TO PRODUCTION.
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