VAT on purchase of Airconditioner
This query is : Resolved
varun gupta
(Querist)
22 May 2009
A manufacturing Unit purchases an AC for its office and bill includes VAT also. Can it take the Input credit for the VAT amt paid?
C.A.Javid Patel
(Expert)
22 May 2009
Yes it can take input after reduction of 2%
Eg.
if assest id of 100 & vatis 4 (assum 4%)
then vat will be Rs 2
Eg.
if assest id of 100 & vatis 4 (assum 4%)
then vat will be Rs 2
varun gupta
(Querist)
23 May 2009
Why this 2% is to be reduced?
Sanjeev Kumar
(Expert)
23 May 2009
No, A.C. for use in office i.e. not concern with manufacturing then as per Delhi VAT Act, credit is not allowed.
varun gupta
(Querist)
25 May 2009
But i think VAT input credit can be taken for Fixed Asset purchases. Pls correct if I am wrong!
Sanjeev Kumar
(Expert)
28 May 2009
please check schedule -7 under Delhi VAT Act.
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