can you debate about that we can cliam tax credit on capital goods
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.
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
CAclubindia
