Please appraise me about the availability of Input tax credit under the VAT Laws, with regards to purchase of LPG. ( Also if its' in the negative list)
Thanks a lot.
2 Replies
P.N.KASHYAP
(Accountant)
(21 Points)
Replied 15 February 2010
Sir,
we are purchase the one Electric Trolley on dt 22.01.10
Cost of machine - 74604
Up Vat @ 12.5% - 9325
Add.Tax @ 1% - 746
Total bill value - 84676
Please advise for ITC Claim for the same in books and return as per rule.
Thanks
Pankaj Arora
(Learner)
(3134 Points)
Replied 15 February 2010
Dear Sir
You can take Input Credit of Machinery into 36 equally installment.
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