Vat credit on plant & machinery
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
31 July 2013
WHETHER VAT CREDIT ON PLANT PURCHASE IS ELIGIBLE IF MANUFACTURER ALSO DO JOB WORK ?
31 July 2013
YES. IT IS ELIGIBLE.
04 August 2013
The question is not clear. If a manufacturer is buying a plant which satisfies the related conditions,then, it is eligible for availing the input credit.If that manufacturer is doing only job work with that machine/plant-although he is otherwise a manufacturer and a tax payer-credit of the input tax paid can not be availed.Such purchased plant/machinery should produce taxable goods or aid such work like supplying electricity etc....mjk
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