Dear Members,
I need a clarification regarding input credit availability on Electrical items.
Dear Members,
I need a clarification regarding input credit availability on Electrical items.
First of all , decide whether Electrical items comes under revenue or capital exp . If revenue Input credit will be allowed if the assessee is a dealer in the same.otherwise (should not be spares and parts) input credit will be allowed on deferrment basis basing on respective state laws. In both cases Tax invoice (purchase) is necessary
CAclubindia
