Vat on fixed assets
This query is : Resolved
19 July 2014
can i get set off of VAT on purchase of office equipment,printing & stationery,plant & machinery??
19 July 2014
vat paid on capital assets are allowed as input vat on installment. Plz write which state VAT you are taking about.
19 July 2014
Input Vat is allowed in Fixed Assets. As the percentage for claiming is different in different states. I have no knowledge about MH-VAT as I practice in Delhi. Experts from MH will guide you.
19 July 2014
normally ITC is admissible on capital goods, but definition of capital good as per VAT act normally cover only machinery. office equipment etc are not coverd.
you must refer the definition of capital goods in ur state vat act.
you must refer the definition of capital goods in ur state vat act.
19 July 2014
AGREE WITH ARUN
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