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Mvat credit for fixed asset claimed for previous year

This query is : Resolved 
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(Querist)
12 December 2012 is Input credit available on Car which was purchased on 2010-11 and no credit is taken during that year ? can the dealer take credit in current year for that purchase?
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Prakash Kochar

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Prakash Kochar (Expert)
14 December 2012 No input credit is available on purchase of passenger Vehicles (Car), unless used in business of transferring right to use.
In any way credit can be claimed in the period of purchase.
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