Dear Freinds,
Input Vat credit on purchases of consumble can be claimed by the dealer. A manufacturing dealer purchased Machinery spares parts and other consumables which are used in factory and charged to P& L account.
Pls tell me can the dealer claim Input VAT credit on the same under Rajathan Value added tax, 2003
| Originally posted by : Jagdish Bhalia | ||
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Dear Freinds, Input Vat credit on purchases of consumble can be claimed by the dealer. A manufacturing dealer purchased Machinery spares parts and other consumables which are used in factory and charged to P& L account. Pls tell me can the dealer claim Input VAT credit on the same under Rajathan Value added tax, 2003 |
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Yes Dealer Can Claim Vat Input, he is eligible for it, he claim it in two installment if capital goods purchase amount is more than rs. 100000 if less than it than he can claim in one time, & he charged in P&L is wrong treatment as per IT Act
u mean, it should have been capitalisd...
ya
CAclubindia
