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Vat input

This query is : Resolved 
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(Querist)
09 July 2013 Sir, Plz tell me if we purchased Fixed Assets by paying 12.5% VAT so can we take VAT input if yes then it will be 12.5% fully . Plz explain
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V K Bajaj

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V K Bajaj (Expert)
10 July 2013 Shraddha!

While putting any query about VAT the name of State must be given. VAT Rules are governed and framed by STATE. Rules and Procedure differ from State to State.

Normally the VAT paid on Fixed Assets is allowed as INPUT CREDIT but not entirely in one year but in three or more years.

contact@vkbajaj.co.in
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Shraddha

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Shraddha (Querist)
10 July 2013 It's for Maharashtra
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