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.
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
- Itr 1 processing
- Off Market debit and credit transaction
- ITR 2 Short Term gain & Long term gain
- Reporting Income under Section 44ADA
- Showing Gift from relative in ITR for this year
- ITR 1: Details for showing Exempt Income
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- ITR returnFY25-26
- Short Term Capital gain on shares bought and sold after 2018 onwards
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- ITR validation error - Balance sheet is not filled
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
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
