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Query on vat credit??

This query is : Resolved 
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(Querist)
14 September 2012 Can VAT Credit be availed on a old machinery (1965) purchased for demonstration (Advertising 7 Sales Promotion). The Machinery is not used for production purpose currently.
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CA RICHA BADALIA

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CA RICHA BADALIA (Expert)
14 September 2012 Since machinery is not being used for production you cannot claim input tax on it. Capitalise the VAT amount with the asset .
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