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input credit on spares

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(Querist)
19 April 2010 can we claim input credit on spares used in the process of repair of machinery?
If we get a tax invoice from our repairer for repair of such plant and machinery, can we claim a tax credit under DVAT?
If yes, is it a capital good or other purchases?
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Madhukar N Hiregange

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Madhukar N Hiregange (Expert)
19 April 2010 Yes as other purchases.
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CA Shiv

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CA Shiv (Expert)
19 April 2010 Depends upon the expense and amount..
If you are capitalising it than u have to consider as capital good and can claim upto 50% in first year and rest in other..or else consider as other purchases.
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sachin alwadhi

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sachin alwadhi (Expert)
19 April 2010 AGREE
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