Firm has purchased a water Purifier for the staff and same has been paid in cash for Rs.14063/-. The supplier has given the bill mentioning a VAT on the same. And the same has been taken as a office equipment. My question is whether the Firm can claim VAT of Rs.1563/- on it. (Rs.12,500/- + 12.50% VAT Rs.1563/-) Pls. justify the same. Thanks.
Menu
Vat claim
Replies (2)
Dear Sir,
VAT can't be claimed.. as it is neither a goods/items to sale-purchase for firm... nor the capital good (machinery used in production).. thus, the same is not allowed...
And also, you might also noticed that on the invoice, it should be printed as retail invoice, not as tax invoice... you being a public can't claim that amount.
Best Regards,
CA Lovely Arora
ca.lovelyarora @ gmail.com
You can't claim input vat because this items is not purchase for sale & this is not a capital goods under vat.
Recent Topic
- PPF Interest Exempt - But what drop down to choose
- Itr2 or itr3 intraday trade 1 loss of 70 paise
- Calculation of IT
- CA FINAL FR IndAS 33 Doubt(Corrected)
- Clarification Needed: Reporting Accrued vs Paid FD
- TDS on prize given to participants in Livestock sh
- TDS related matter - 194 IA
- Research: How do CA firms handle GSTR-2B reconcili
- CA FINAL FR IndAS 33 Illustrtion 14
- Taxation on Sale of old Jewellery Received at Marr
Related Topics
CAclubindia
