Dear Friends,
Anyone can tell me, can we take input tax credit on purchase of Bike?
Regards,
Ganesh
Mvat purchase of bike
(Guest)
Swapnil Jain
(Finance - FP&A)
(564 Points)
Replied 19 March 2012
Bike is niether input not capital goods calssified as plant and machinery so no input VAT credit available as per my view....
suggestions or corrections if any , most invited
valji
(Accounts manager-MBA)
(2150 Points)
Replied 19 March 2012
you can take input credit tax over & above 4%
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