Input Credit are allowed or not??
This query is : Resolved
19 October 2010
plz. let me know whether inut credit of vat paid is allowed as per MVAT Act 2000 on the following items or not.
1) for printing & stationery
2) for consumable
3) for fixed assets such as furniture,machinnery, tools etc.
Urgently waiting for ur reply.
1) for printing & stationery
2) for consumable
3) for fixed assets such as furniture,machinnery, tools etc.
Urgently waiting for ur reply.
20 October 2010
upto my knowledge.. credit of VAT only on the Plant & machinery used in production/ manufacture is allowed.
Guest
Guest
(Expert)
20 October 2010
Refer definition of capital goods under MVAT act.
for that input credit allowed.......
For consumable - ITC eligible
For printing & stationery
( ITC not allowed)
for that input credit allowed.......
For consumable - ITC eligible
For printing & stationery
( ITC not allowed)
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