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Set off on capital godds

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(Querist)
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
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Mohit Naithani

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Mohit Naithani (Expert)
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...
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CA CS Pawan Jajoo

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CA CS Pawan Jajoo (Expert)
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.
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