Input vat credit
chandan pal (Assistant Accountant) (81 Points)
13 September 2016chandan pal (Assistant Accountant) (81 Points)
13 September 2016
chandra sekar
(Manager-Accounts)
(387 Points)
Replied 15 September 2016
First of all, No input VAT is elgible on computer purchases. As per capital goods are concerned, only on machinery, we can claim input tax, which has to be adjusted thro a schedule of 50% in I Year, 25% in II year and 25% in III year.
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"