Input Vat credit on Stationary Puachase

Please let me know if credit can be take for VAT paid for purchase of car. Can Vat Credit can be carried forward for the further period of 2 years ? Further is it possible to take VAT credit on the capital goods which are brought before getting the VAT registration.

Originally posted by :krishan

Please let me know if credit can be take for VAT paid for purchase of car. Can Vat Credit can be carried forward for the further period of 2 years ? Further is it possible to take VAT credit on the capital goods which are brought before getting the VAT registration.
 
 
Originally posted by :krishan
 

If the car is used for business purposes and included in the block of assets / showns as capital assets, then the VAT input credit on the said car has to be taken into 2 intsallmnets as follows:

-e.g. Date of purchase of Car 12-05-2008

VAT paid on car : 35000/-, then VAT input shal be taken as follows:

for the year 2008-09: 17500/-

for the year 2009-10: 17500/-

Now answer to your second question:

It is NOT possible to take the input credit of VAT paid on the purchase of capital assets prior to the date of registration.