Latest vat act karnataka
This query is : Resolved
KingToRule
(Querist)
17 February 2012
Hi,
I have a query on input on capital goods in Karnataka, We have purchased some capital goods, mainly furniture & Fixtures, Racks, Freezers, etc. we are in trading business. Please tell me can i take input credit on these items, and for within what period as per latest KVAT Act.
I have a query on input on capital goods in Karnataka, We have purchased some capital goods, mainly furniture & Fixtures, Racks, Freezers, etc. we are in trading business. Please tell me can i take input credit on these items, and for within what period as per latest KVAT Act.
CA. Hari Kishan
(Expert)
17 February 2012
Furniture and fixture, electrical and electronic goods are all input tax restricted goods.. you can refer to 5th schedule to the KVAT Act , 2003 for the list.. INPUT tax is not allowed..
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KingToRule
(Querist)
18 February 2012
Thankyou sir
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