As a trading co can we take VAT input credit of VAT paid on display stands?
3 Replies
CA Anant Tyagi
(CA)
(283 Points)
Replied 16 June 2016
Hi Kiran
Please specify the state and some other informations like nature of business and use of display stand etc.
kiran rathi
(Finance Consultant)
(100 Points)
Replied 16 June 2016
Hi Anant we are in business of car care products in karnataka we purchased display stands to display our various products.
CA Anant Tyagi
(CA)
(283 Points)
Replied 16 June 2016
Dear
As per section 11(3) of Karnataka VAT Act,
Tax paid on goods including capital goods as specified in the Fifth Schedule and any other goods as may be notified by the Government or the Commissioner, purchased including when transferred in the execution of a works contract or put to use for purposes other than for re-sale.
I think your display is not for sale so input credit shall not be allowed.
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