VAT ON CAPITAL GOODS( WEIGHTMENT BRIDGE)
This query is : Resolved
23 April 2011
We are steel manufacturer and purchase a weightbridge and paid vat on that purchase. Can we take credit of vat paid for the same.
23 April 2011
You can take 33% in every year. but you will prove its use for your own purpose.
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23 April 2011
Sir, thanks for ur valuable reply. The weightbridge is inside the unit.
is 77% of the balance vat is non-recoverable.
is 77% of the balance vat is non-recoverable.
23 April 2011
33% in this year and 33% next year and 33% another next year credit will be allowed.
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23 April 2011
SIR WE ARE FROM PUNJAB. AND I AM ASKING FOR THE FINANCIAL YEAR 2010-2011. SO IS IT APPLICABLE HERE. BECAUSE WE ALREADY TAKE THE FULL CREDIT OF ALL CAPITAL GOODS PURCHASED EARLIER.
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