Input vat on capital goods
This query is : Resolved
14 February 2013
OUR MANUFACTURING UNIT IS UNDER CONSTRUCTION ,LOCATED AT LUCKNOW ,U.P.. WE ARE DOING PURCHASES SUCH AS BUILDING MATERIALS, PLANT & MACHINERY, INSTALLATION ITEMS &EXPENSES FOR PLANT &MACHINERY ETC. ALL SUPPLIERS AS ABOVE MATERIALS ARE BEING CHARGED OUTPUT VAT ON THEIR INVOICES.THEY ALL AND OUR COMPANY ARE REGISTERED UNDER U.P.VAT DEPARTMENT.
ARE WE ENTILE TO AVAIL INPUT VAT UNDER CAPITAL GOODS EXPENDITURE.
PLEASE CLEARFY IT.
VINAY KALE
ARE WE ENTILE TO AVAIL INPUT VAT UNDER CAPITAL GOODS EXPENDITURE.
PLEASE CLEARFY IT.
VINAY KALE
CA Lokesh Pokharna
(Expert)
14 February 2013
yes input credit of these capital items available ,credit admissibility depends on up vat act whether in half yearly mode or monthly mode...
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