Venkatesh (Accountant) (43 Points)
04 June 2009Pl. clarify me VAT on Capital Goods under Karnataka Value Added Tax ?
Can Input VAT Credit on Capital Goods be claimed full amount of credit available irrespespective of value or any amount restructions is there like if VAT credit amount amount is more than 1,00,000/-(ex.) we have avail capital good VAT credit in 2 years??
Entry tax on capital goods purchased either Interstate or Imported?
CA. MOHAMMAD.QUSROO
(CA FINAL)
(81 Points)
Replied 04 June 2009
in karnataka,if the value of capital goods is less than 10 lakhs then input can be claim immediately
CA. MOHAMMAD.QUSROO
(CA FINAL)
(81 Points)
Replied 04 June 2009
| Originally posted by :MOHAMMAD.QUSROO | ||
| " | in karnataka,if the value of capital goods is less than 10 lakhs then input can be claim immediately | " |
Laxminarayan
(Chartered Accountants)
(29 Points)
Replied 05 June 2009
under MVAT if end product is exempt do i claim full set off agst. my input credit ??
Is there any relaxation if I Export entire or part of Exempted Good??
Is there any relaxation for domestic sale but Mfg. Unit in Special Zone ?
please reply
Madhukar N Hiregange
(Chartered Accountant)
(39034 Points)
Replied 08 June 2009
The capital goods credit is available in full except for those which are listed in Sch V. There is no value cap.
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Survey, Search and Seizure under Income Tax Act 1961
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