Input vat credit on fixed assets,
This query is : Resolved
16 May 2012
Dear Sir or Madam,
Our company is registered under vat in Karnataka, and we are paying VAT by monthly regularly now we purchased Car (Innova) and we paid vat @14% at the time of purchase of vehicle, so my doubt is whether I can claim the vat input in our regular vat returns or not.
Please Note: - our business is different, this vehicle will be using for our official purpose.
Kindly send your precious time for this quiry and help me out.
Thanks in Advance, I hope will get your replay.
Thanking You.
Yours truly,
Ranganath
Our company is registered under vat in Karnataka, and we are paying VAT by monthly regularly now we purchased Car (Innova) and we paid vat @14% at the time of purchase of vehicle, so my doubt is whether I can claim the vat input in our regular vat returns or not.
Please Note: - our business is different, this vehicle will be using for our official purpose.
Kindly send your precious time for this quiry and help me out.
Thanks in Advance, I hope will get your replay.
Thanking You.
Yours truly,
Ranganath
21 May 2012
Mr Ranganath,
No,it is not permitted to claim the tax paid on purchase of a vehicle as input tax
as per sec 11 of KVAT Act,under the circustances stated by you.
MJK
No,it is not permitted to claim the tax paid on purchase of a vehicle as input tax
as per sec 11 of KVAT Act,under the circustances stated by you.
MJK
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
- Post Office RD Interest
- Reporting Income under Section 44ADA
- Itr 1 processing
- Building and other construction workers welfare cess act 1996
- ITR validation error - Balance sheet is not filled
- ITR 1: Details for showing Exempt Income
- Bank Accounts in Balance Sheet for ITR 3
- TDS ON CASH WITHDRAWALS...
- Eway bill for machinery reparing
- Annual return of gst limit
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
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
