Tax on capital goods
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 April 2012
sir, if mr. x has filed his vat return for the 1st and 2nd qtr, 2011 and then he purchase capital goods then can he claim tax benifit of capital goods in 3rd qtr or otherwise credit will be available in 1st qtr of next assessment year.....
please clerify
please clerify
CA CS Pawan Jajoo
(Expert)
21 April 2012
credit will be available in 3 rd qtr as, purchase of capital asset in 3rd qtr.
Inshort credit is available as per Bill date
Inshort credit is available as per Bill date
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