Vat on fixed assets

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roheabdul

roheabdul (Querist)

19 July 2014 can i get set off of VAT on purchase of office equipment,printing & stationery,plant & machinery??

CA UMESH DULAL

CA UMESH DULAL (Expert)

19 July 2014 vat paid on capital assets are allowed as input vat on installment. Plz write which state VAT you are taking about.

roheabdul

roheabdul (Querist)

19 July 2014 maharashtra vat sir

CA UMESH DULAL

CA UMESH DULAL (Expert)

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.

Vishnu Saboo

Vishnu Saboo (Expert)

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.

CA UMESH DULAL

CA UMESH DULAL (Expert)

19 July 2014 AGREE WITH ARUN

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