24 February 2012
hi plz confirm me anybody of below problem
we are the manufacturing firm. we take 100w connection of electricity & one electricity transformer also. on the electricrty transformer,we received vat input @ 5%, so can we take of that vat input , vat input around 20000 rs. but i doubt that transformer will go in electricity item & not goes on machinery item . so what we will do of that vat inpu amount???
24 February 2012
Please mention the state where you are registered .. as far incase you are a registered dealer in Karnataka.. 5th schedule in Karntaka has restriction on claim of input tax on electrical goods.. i would however differ and state that the same are capital goods and claim the tax..
CAclubindia
