vat input credit
This query is : Resolved
02 August 2009
If a company is trading in gypsum type of activities and it sales a car which is company's asset,can it claim input vat credit against this vat on sale of car?and what if it purchases a car? can it claim input vat credit for the vat on purchase of car?What will be the effect if it is a transport company?
Vishnu Saboo
(Expert)
02 August 2009
no...if u are purchasing and selling Car...u can...but if it's not related to your bussiness, u can't.
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