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Input tax credit of cvd

This query is : Resolved 

03 December 2013 DEAR SIRS
ONE OF MY CLINT IS IMPORTING GPS DEVICES AND PAYING CVD AND SELLING THESE DEVICES TO SOME CUSTOMERS AND ALSO LEASING THESE TO ANOTHER CUSTOMERS AND ALSO PROVIDING VEHICLE TRACKING SERVICES FROM THESE DEVICES.PLZ TELL WHETHER HE CAN TAKE INPUT CREDIT OF CVD PAID ON IMPORT OF DEVICES AND HOW MUCH.

03 December 2013 CREDIT OF CVD IS AVAILABLE WHETHER 100% OR 50%+50% IT DEPENDS ON YOUR CASE.

03 December 2013 WHETHER PROPORTIONATE CREDIT ALLOWED FOR LEASING SERVICE PROPORTION ONLY.




04 December 2013 yes but check your accounting policies and consult with your auditor



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