Input tax credit on fixed asset
This query is : Resolved
29 April 2009
One of my client purchase Truck & he paid VAT on it his daily business is supply of soil to construction sites he charge 4%vat on it as a output tax his other purchase is URD My Main Question is
1. Whether he claim the input tax credit of VAT paid on Truck Purchase
2. if yes then how ?
3. if not then please provide refrance of act mention in Maharastra VAT
its urgent for me
1. Whether he claim the input tax credit of VAT paid on Truck Purchase
2. if yes then how ?
3. if not then please provide refrance of act mention in Maharastra VAT
its urgent for me
30 April 2009
Yes,
As per rule 53 you can claim the Vat as input credit but you have to take credit after reduction of 2 % means you are eligible for only 2% credit.
As per rule 53 you can claim the Vat as input credit but you have to take credit after reduction of 2 % means you are eligible for only 2% credit.
04 May 2009
means he will cliam 2% of taxpaid of purchase of truck
22 July 2023
"Sorry, I am not a featured member."
For featured members contact....
https://www.caclubindia.com/catalogue/featured.asp
For featured members contact....
https://www.caclubindia.com/catalogue/featured.asp
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Reopen of assessment proceeding
- TDS on Consultancy- Non DTAA
- Depreciation of fixed assets- coop housing society in mumbai
- COMMERCIAL INVOICE FOR MATERIAL AND FREIGHT
- Gift Received from nonblood relative
- Management System (IMS)
- Foreign lottery ticket bought online from India: legality, tax and consequences
- Reprocessing of rectification order AY 2025-26
- FTS Taxable under 115A
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
