Input vat credit on fixed assets,
This query is : Resolved
RANGANATH.T
(Querist)
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
MJ Krishnamurthy
(Expert)
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
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