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VAT Setoff of tempo purchase
A company have purchase of tempo for goods transport from one factory to other factory. but company not a transportation business his business is paper related and tampo purchase in the name of company can i take vat setoff of fix aasets. its urgent matter plz help me...
Replies (6)
Total Bill value consider as "Fixed Asset"
sir but one CA said me u can claim vat setoff on tempo it is true or what. as per your knowledge we can not taken setoff right sir.
Dear.,
As per my view.,
Any restricted input tax claim by the related business activities dealers only. Otherwise no need availability...
but sir tempo purchase on name of company and use in business purpose but company not transport agency than what.
Mr....
Input Tax not available for vehicle purchase. In this regard we ll convert full value (Basic Value + Tax Value) to Asset...
but sir some CA said u can take credit.
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