Set off on plant & mahchinary in retail
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 August 2011
we are engage with retails business in maharashtra. we are purchased the Plant & Machinary (Capital Assest)from Maharashtra. As per Rule 53(7A),we taking vat credit after retention 3% on office equipment,furniture. there is not metion Plant & Machinary.
please suggest can I take 100% vat credit on Plant & machinary (capital Assets)
please suggest can I take 100% vat credit on Plant & machinary (capital Assets)
CA Umesh Sharma
(Expert)
11 August 2011
Dear,
We will get full setoff on Plant and Machinery. There is no need of retention on Plant and Machinery.
We will get full setoff on Plant and Machinery. There is no need of retention on Plant and Machinery.
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