Avail 20% discount on updated CA lectures for Dec 21 .Use Code RESULT20 !! Call : 088803-20003

ICICI

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Karnataka Input VAT credit on capital goods.

This query is : Resolved 

Can the Input VAT cedit on Capital Goods be availed under Karnataka Vat?

HI,

Please go through the below point you can get the conclusion,
Deduction of input tax in respect of Capital goods.- (1) Deduction of input tax shall be allowed to the registered dealer in respect of the purchase of capital goods 1[on or after the commencement of this Act] for use in the business of sale of any goods in the course of export out of the territory of India and in the case of any other dealer in respect of the
2004: KAR. ACT 32] Value Added Tax 23
purchase of capital goods wholly or partly for use in the business of taxable goods.
1. Inserted by Act 6 of 2005 w.e.f. 19.3.2005.
(2) Deduction of input tax under this Section shall be allowed only after commencement of commercial production, or sale of taxable goods or sale of any goods in the course of export out of the territory of the India by the registered dealer and shall be apportioned over a specified period, as may be prescribed.



i agree with ashok kumar g



You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


Similar Resolved Queries

loading





Trending Tags