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Negative list

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(Querist)
25 May 2015 Can any body give me nagetive list for gujarat vat (perticularly required for capital goods)

in which cases we can not get vat credit

thanks in advance
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Kumar Gaurav

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Kumar Gaurav (Expert)
25 May 2015 ITC on Capital Goods is also available, except on the following:

 Capital goods used in the manufacture of goods specified in Schedule
I or the goods exempted from the whole of the tax by a notification
under sub-section (2) of section 5 or in generation of electrical energy
including captive power;

 Capital goods, used in transfer of property in goods (whether as goods
or in some other form) involved in the execution of works contract;

Further, the capital good on which input tax credit has been claimed should
be used for a continuous period of 5 years, or else input tax credit is reduced
proportionately.
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