TNVAT INPUT CREDIT ON MACHINERY SPARES

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One of my Client had purchased spares for machinery that meant for production and availed TNVAT Input credit. They Informed us TNVAT Input credit is eligible for purchase of machinery spares also. We have checked with TNVAT Act and we could not find out correcness of the claim . Kindly clarify the claim of TNVAT Input credit is correct  or not

Replies (5)
Originally posted by :VIGNESH
" One of my Client had purchased spares for machinery that meant for production and availed TNVAT Input credit. They Informed us TNVAT Input credit is eligible for purchase of machinery spares also. We have checked with TNVAT Act and we could not find out correcness of the claim . Kindly clarify the claim of TNVAT Input credit is correct  or not "

Logically it wont be available.

But i checked it couldnt able to found yar.

you can also availed the input credit for the spares also. AS per section 2(11), the definiton of the capital goods means 

Components, spareparts and accessories of the goods specified above ie for machineriesetc.

however you may take input 50% for first year and balance for the 2&3 years

We are purchasing Filters,  Element oil & seperator fuel water for our machineries, shall we take VAT INPUT Credit for the same

 

Thanks & regards

P.Manikandan

 

 

Hi

 

We can print those documents they billed to our company on vat we shall claim that input credit

Kindly clarify

 

 

 


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