INPUT OF CAPITAL GOODS
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 May 2011
SIR I WORKS IN GARMENT COMPANY SELLING CLOTHE WE PURCHASE A CAR FOR SELLING & TRANSFER GOODS FROM BRANCH TO BRANCH ,CAN WE SET OFF INPUT VAT OF CAR PURCHASE AGAINST OUT PUT VAT SELLING CLOTHE ,IF YES THEN HOW
U S Sharma
(Expert)
21 May 2011
vat credit is not allowed on vehicles unless they are of special type tailor made as per customer requirement, and classified under plant and machinery.
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