vat

 Could you please tell me how could we calculate input credit on capital goods, if it costs less than 1 cror.

Dear Aditi,

The Input Credit does not depend on the cost of the goods, what ever vat amount you had paid for the purchase of capital goods that should be set off against the payable vat. Further you have to go state-wise for the clarification.

Dear Mr. Negi,

Please go through the follwing link for your clarification.

https://www.dvat.gov.in/dvatonline/page.php?PageId=12