Input credit of vat (plant & machinery)
This query is : Resolved
27 June 2014
WE WANT TO START OUR BUSINESS IN PUNJAB. WE HAVE PURCHASED PLANT & MACHINERY (OLD) FOR BUSINESS USE. THIS IS LOCAL PURCHASE (VAT PURCHASE). WE DO NOT HAVE TIN/CST NUMBER YET (NOT REGISTERED IN SALES TAX)
1.CAN WE TAKE INPUT CREDIT AFTER GETTING TIN/CST NUMBER.
2.IF YES, WHAT IS THE TIME LIMIT.
Kindly help.
1.CAN WE TAKE INPUT CREDIT AFTER GETTING TIN/CST NUMBER.
2.IF YES, WHAT IS THE TIME LIMIT.
Kindly help.
Vishnu Saboo
(Expert)
30 June 2014
i think for old machinery no ITC is available, you need to check ur state vat act for the same.
Message likes :
1 times
Rupesh Jain
(Expert)
30 June 2014
pls take TIn no before buying material .
Message likes :
1 times
09 July 2014
Sir,
Is it compulsory to take TIN to take benefit of input credit? Please confirm.
Is it compulsory to take TIN to take benefit of input credit? Please confirm.
Vishnu Saboo
(Expert)
11 July 2014
without having TIN you are not eligible to avail ITC.
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