Vat credit on fixed assets
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
30 October 2011
on my recent audit of a trading concern i came to know that we cannot claim input vat credit on purchase of few fixed assets like mobiles, furniture & fixtures & Office Equipments. can anyone please clear my query that on which goods can we get credit & on which we cannot
Sundaram Kumar
(Expert)
01 November 2011
VAt credit on Fixed Assets can be availed only Machineries which can be used for manufacturing or Production
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