vat claim

madhukar (student) (306 Points)

11 August 2009

hi friends

i would like to know whether vat paid on machinary claim as input vat. iam doing one cold storage company.here input vat has not been claimed.

clarify as soon as possible

thanks &regards

madhukar.p

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(Guest)

vat credit is available only on inputs used in producing outputs .. also they should form part of output.

aniket (Accountant) (561 Points)
Replied 11 August 2009

yes in maharashtra , vat paid on machinery claim as input vat but

dont charged depreciation on input vat

eg machinery 100

vat 13

total 113

if depreciation charged on rs 113 the input vat not available

if depreciation charged on Rs 100 then input available

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