Query on vat payable on sale of capital goods

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.

 

 

Replies (1)

  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

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