We are a trading concern we have purchased some computers and furniture can we take take the Input credit of VAT paid by us on purchase of the computer as capital goods in gujarat
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Vat credit
Replies (3)
Yes You Can Take Input Credit on Capital Goods But in 3 Years in Equal Instalment
Yes input credit can be claimed on VAT paid on purchase of fixed Assets.
However different states have different methods of availing the input credit on capital goods. Some states allow to take input credit in 36 installments. Pls chk the procedure for gujrat and accordingly avail credit.
VAT paid on office furniture and computers are not eligible for ITC........mjk
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