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Vat credit on car (capital asset)

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(Querist)
28 October 2011 we have engaged in retail business.
We have purchase a car for business use & capitalized under the group of plant machinery, can I take vat credit on car.
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Ram Avtar Singh

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Ram Avtar Singh (Expert)
28 October 2011 Input Vat credit not allowed. only on commercial vehicle vat allowed.
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CA. Gurdeep Singh Chawla

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CA. Gurdeep Singh Chawla (Expert)
28 October 2011 No you cant take credit




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