Suppose I purchase a machinery(i.e capital goods) for my factory.If the price of the capital goods is below Rs 1 crore then the VAT paid on purchase can be adjusted in 24 equal monthly instalments and if the price of the capital goods is above Rs 1 crore then the VAT paid can be adjusted in 4 equal half yearly instalments in West Bengal?
Dear Roy,
All the vat paid on a purchase of a capital goods can be claimed in one instalment, irrespective of its value,subject to the conditions laid under rule 19 of WBVAT Rules.If it becomes excess to the output payable in that month, it can be carried forward to the succeeding months....mjk
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
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