at pre incorporation period
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 October 2010
Hi,
At the time of pre incorporation period means construction of the plant we need to capture the Input VAT or we need to directly booked WIP
At the time of pre incorporation period means construction of the plant we need to capture the Input VAT or we need to directly booked WIP
25 October 2010
At the time of construction , there is no stock, so you cannot take the input credit.
In case capital asessts , availability of VAT credit is doubful in some states, So you please check up first, since we donnot the state , your plant situated.
In that case assets will be capitalized nit of VAT. And VAT credit will be kept as input credit available. But this is not a good idea.
In case capital asessts , availability of VAT credit is doubful in some states, So you please check up first, since we donnot the state , your plant situated.
In that case assets will be capitalized nit of VAT. And VAT credit will be kept as input credit available. But this is not a good idea.
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