Input tax credit of cvd
This query is : Resolved
Ashish Khandelwal
(Querist)
03 December 2013
DEAR SIRS
ONE OF MY CLINT IS IMPORTING GPS DEVICES AND PAYING CVD AND SELLING THESE DEVICES TO SOME CUSTOMERS AND ALSO LEASING THESE TO ANOTHER CUSTOMERS AND ALSO PROVIDING VEHICLE TRACKING SERVICES FROM THESE DEVICES.PLZ TELL WHETHER HE CAN TAKE INPUT CREDIT OF CVD PAID ON IMPORT OF DEVICES AND HOW MUCH.
ONE OF MY CLINT IS IMPORTING GPS DEVICES AND PAYING CVD AND SELLING THESE DEVICES TO SOME CUSTOMERS AND ALSO LEASING THESE TO ANOTHER CUSTOMERS AND ALSO PROVIDING VEHICLE TRACKING SERVICES FROM THESE DEVICES.PLZ TELL WHETHER HE CAN TAKE INPUT CREDIT OF CVD PAID ON IMPORT OF DEVICES AND HOW MUCH.
03 December 2013
CREDIT OF CVD IS AVAILABLE WHETHER 100% OR 50%+50% IT DEPENDS ON YOUR CASE.
Ashish Khandelwal
(Querist)
03 December 2013
WHETHER PROPORTIONATE CREDIT ALLOWED FOR LEASING SERVICE PROPORTION ONLY.
04 December 2013
yes but check your accounting policies and consult with your auditor
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