VAT Input Credit
This query is : Open
10 December 2009
Is VAT Input Credit on Capital Asset purchased available for set-off with VAT payable on sales...
11 December 2009
You have to reduce the Cost of Capital Asset purchased to the tune of VAT SET-OFF
11 December 2009
I did not get your point...Lets say the cost of the asset is 1,00,000 & the VAT on the same is say 12500, the cost of the asset wil be shown as 1,00,000 in the books & can the VAT input of 12500 be set-off against the VAT payable on Sales..?
23 December 2009
Someone pls clarify
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