Vat credit on machine installation
This query is : Resolved
GAURAV SHRAWAGI
(Querist)
21 August 2012
OUR CLIENT HAS PURCHASED CEMENT BAGS FOR PREPARING BASE OF MACHINE. CAN HE AVAIL INPUT TAX CREDIT OF VAT PAID ON CEMENT BAGS????
Vaibhav Netke
(Expert)
21 August 2012
Yes, u can take CENVAT Credit for the inuput used.
CA CS Pawan Jajoo
(Expert)
21 August 2012
As per my opinion it is not allowed to take VAT Setoff as per rule 54. As it is part and parcel of Building.
If you take credit you will have to prove that it is part of Plant and machinery.
If you take credit you will have to prove that it is part of Plant and machinery.
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