Availment of VAT credit on upgradation of machinery
This query is : Resolved
arulselvan
(Querist)
24 January 2009
Sir,
Pl.clarify whether we claim VAT credit on upgradation of machinery? 100% or 50%?
Pl.clarify whether we claim VAT credit on upgradation of machinery? 100% or 50%?
N J Ansari
(Expert)
26 January 2009
Under Maharashtra VAT Act, 100% Input
VAT credit is allowed.
VAT credit is allowed.
arulselvan
(Querist)
27 January 2009
Thanks for your reply
CA Nitin Wadhwani
(Expert)
08 February 2009
But if the machinery is used to manfacture tax free goods, the input credit is subject to reduction of 3% of Purchase Amount.
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