input tax credit on entry tax for capital items
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 November 2010
May please clarify whether input tax credit on entry tax paid on capital item is available.
A new project having 3 year period for its completion after that production will started depositing entry tax , how credit will be adjusted as the sale will started after three years.
A new project having 3 year period for its completion after that production will started depositing entry tax , how credit will be adjusted as the sale will started after three years.
07 November 2010
no input credit will be available for entry tax. it is applicable only on stock items.
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