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Input ta credit

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Querist : Anonymous

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Querist : Anonymous (Querist)
13 December 2013 Dear sir,
my company give computer system for using on rant and it is a capital goods can i take ta credit on this tax ,which is charge on tax in rent.
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MJ Krishnamurthy

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MJ Krishnamurthy (Expert)
17 December 2013 The computers may have been given on lease to somebody for use.The lease rentals received are taxable at 5%.You can input tax credit of the vat paid on the purchases of computers.VAT payable on rentals are to be declared in the returns and paid....mjk
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