Credit of vat on construction material
This query is : Resolved
02 January 2012
Dear All,
Can a new Manufacturing unit (for Bricks) claim vat credit on construction material used in the construction of factory and office building though production activity is not yet started?
Thanks
Can a new Manufacturing unit (for Bricks) claim vat credit on construction material used in the construction of factory and office building though production activity is not yet started?
Thanks
MJ Krishnamurthy
(Expert)
04 January 2012
Mr. Rajesh,
Generally, in most of he VAT Acts tax paid on purchases of material used for constructing a factory building is not allowed,except in the case of Special Economic Zone cases.Input tax of capital goods is allowed with some restrictions in each state.
MJK
Generally, in most of he VAT Acts tax paid on purchases of material used for constructing a factory building is not allowed,except in the case of Special Economic Zone cases.Input tax of capital goods is allowed with some restrictions in each state.
MJK
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