VAT Input on Expansion related exp
This query is : Resolved
22 May 2009
A company is expanding its unit and purchasing Cement & other materials on which it is Paying VAT to seller. Can this VAT amt be claimed as Input Credit or there are some restrictions?
22 May 2009
VAT is administered in each state by the VAT Act enforced by the concerned state government.Broadly VAT Act lays down the rates applicable to items that have suffered VAT but the same cannot be set-off those that can be set off. Please refer to your State's VAT Act for details
22 May 2009
It can claim set-off provided it is used for Plant & Machinery and the enterprise is not engaged in manufacture of tax-free goods.
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