query w r t vat
This query is : Resolved
11 June 2008
i want to know if a hospital can take credit of vat on items (medicines) purchased assuming it is registered and what is the case with regard to machinery purchased for performing operations
nilesh gupta
(Expert)
12 June 2008
every registered dealer under vat act is entiteled to take credit of tax paid on purchased goods called input tax credit, if hospital is a registered dealer under vat act , than it can take credit of ITC on purchased goods
and
as per vat act dealer can take credit of vat paid on capital goods, if capital goods are being use in the manufacture.
machinery used in the operation of hospital not use in the manufacturing activity, so in this case this delaer can not take credit of VAT paid on machinery.
and
as per vat act dealer can take credit of vat paid on capital goods, if capital goods are being use in the manufacture.
machinery used in the operation of hospital not use in the manufacturing activity, so in this case this delaer can not take credit of VAT paid on machinery.
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
- Gst credit note by supplier
- Reward for festival
- 18% Rent a cab
- Missed uploading GST Invoice
- Movement of goods by packers and movers - type of sale - Reg.
- Gratuity paid to legal heir above 20 lakh is taxable or not
- Closer of business and itc of capital goods
- RCM and same line
- ARCA LOGIN
- Accounting Treatment of Civil work to install PORTA Cabin for office use
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
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
