Vat paid on capital assets

vishvajeet (Atricle) (40 Points)

11 September 2011  

Dear All

I am confussed about the tretment for VAT Paid on Capital Assets.

As per my knowledge VAT paid on capital assets are eligible to set off 1/3 each year but maximum in 3 year and full amount

Whether my tretment correct or not?

 

Applicable State MAHARASHTRA VAT LAW

 

Please !!!!!!!