Set off on capital godds
This query is : Resolved
14 August 2012
My dealer has purchased a computer(capital Good) he is registered under mvat act .how much amount he can set off .vat amount 2952
14 August 2012
Vat on capital goods is allow to avail in 3 equal yearly installments starting from next financial year. but vat is only allow to avail on machinery or capital items which is using for manufacturing purpose...
21 August 2012
I think you are asking for Maharashtra State, in Maharashtra you can take full setoff of VAT on capital goods , subject some restriction of retention as per rule 53.
On Computer you can take credit after retention at 3% of Taxable Value.
On Computer you can take credit after retention at 3% of Taxable Value.
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