Input Credit are allowed or not??

This query is : Resolved

CA Abhishek Singh (Querist)
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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.

CA Punit

CA Punit (Expert)
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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)

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