purchase of capital goods=Rs 100000,vat paid(not included in purchase price)=Rs 10000
A)assesse is registered dealer
B)assesse is a company
1.sale price of said capital good=RS 150000
2.Sale price of the capital good=RS 70000
is input tax credit available in this case??please compute the vat liability for Case A and B.
Mr Aditya,
It is available in both cases. In the first case an output tax of Rs 5000/- is payable and in the second case a refund of Rs 3000/- arises........mjk
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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