Negative list
This query is : Resolved
Vishnu Davadaparmar
(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
in which cases we can not get vat credit
thanks in advance
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.
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.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- EPF ECR NEW RULES Sep 17th 2026
- Taxation of crypto futures in India Fy 2026- 2027
- Issuing of delivery challan by seller of goods
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
