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Fixed asset vat

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Querist : Anonymous

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Querist : Anonymous (Querist)
09 February 2012 Can i taken benefit of fixed asset vat ?
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kartik_somu

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kartik_somu (Expert)
09 February 2012 yes, if it is used in the manufacture
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CA. Hari Kishan

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CA. Hari Kishan (Expert)
09 February 2012 Claim is input tax is allowed on fixed assets (capital goods), However the claim of input is subject to the input tax restricted goods.

Eg: In Karnataka goods specified under 5th sch to the act - No input tax can be claimed on such goods..
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Querist : Anonymous

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Querist : Anonymous (Querist)
10 February 2012 Thank you sir , but can u tell me what rate of fixed asset vat ?
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