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Input tax credit

This query is : Resolved 
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(Querist)
14 January 2016 I have purchased an electronic meter with panel in capital goods for my business of induction furnace and rolling mill. Can i avail input tax credit on this purchase?
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CA Komal Puri

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CA Komal Puri (Expert)
16 January 2016 Hii,
As per the MVAT Act you can avail full set-off on the capital goods as they will be used for the production of finished goods in your factory.
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komal ameta

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komal ameta (Querist)
21 January 2016 Is it applicable for RAJ. VAT also?
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