Rakesh hegde (Audit Consultant) (81 Points)
28 August 2013Please clarify me:
Our client is a manufacturer of Sofa & table , They are used to purchase a blades & machinery accessories to carry out production process smoothly.
Doubt: Whether manufacturer is eligible to claim VAT Input on purchase on machinery parts? If yes share me the Notification/provision
Thanks in advance
DEEPAK ROHERA
(Senior Accountant)
(285 Points)
Replied 28 August 2013
machinery and there part are treat as a capital goods so we can take credit of input tax as 1/3 from next f.y year in U.P. for notification please you tell me that your client is from which state
Rakesh hegde
(Audit Consultant)
(81 Points)
Replied 29 August 2013
We are in karnataka
The life of machinery parts is hardly for a week. Frequently we are purchasing parts of machinery to carry out the production.
As the life of machinery part is very small, we are treating it as Consumables .
Doubt is whether we can we claim Input VAT on machinery accessories?
CAclubindia
