We are paying entry tax on machinery purchased from outisde Karnataka under Karnatak Entry tax. Is VAT credit available for the entry tax so paid?
Pl clarify.
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VAT CREDIT
Replies (2)
If your business is manufacturing concern or the business is involved in trading the machinery goods then only you can get the credit of the Vat paid. You can't get the credit of VAT on capital goods.
Dear Bahgyesh,
How can you say "You can't get the credit of VAT on capital goods". As far as my knowledge VAT credit on capital goods is applicable as per state govt. rules i.e. in Chhattisgarh we can avail VAT credit on capital goods in 20 months.
Please clarify is it KA VAT act not allowed VAT credit on capital goods.
Thanks
Vijay D
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