Vat credit

524 views 2 replies

Can vat credit be taken on capitals goods like work station, tools,jigs, etc,

 

what is the procedure for taking vat credit on capital goods item?

 

 

Replies (2)

Vat credit is availalbe on capital goods subject condistions prescribed. For the condition you need refer related state vat act and rules.

Regards

Dayananda

 

yes input can be taken on capital goods but you can't utilize the full amount..you can utiflize 50% in the year of put to use and rest in other financial year.

apart from this you have to show asset value less of taxes while capitalized.

hope  it answer your query.

 


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details
Company
Featured 14 March 2026
Article Trainee

N N V Satish&co

Hyderabad

CA Inter

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details