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Vat input credit on software license


T S D ( )     26 April 2012

T S D
 
 21 likes  236 points

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A manufacturing concern obtained a software license for certain period. The service provider has charged 4% VAT (Tamilnadu VAT) in the bill in addition to service tax. The company is eligible for taking credit of Input VAT for other goods.Whether input tax credit be availed by the manufacturing concern for software License?

avater

CA Sripal Jain (Associate Finance)     26 April 2012

CA Sripal Jain
Associate Finance 
 79 likes  709 points

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i see no reason why u cant claim vat credit

 

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Devendra (Chartered Accountant)     26 April 2012

Devendra
Chartered Accountant 
 427 likes  4741 points

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Respected Sir,

 

As per my knowledge, you can avail the Input VAT credit after retention @ 3%. (4% - 1%) ie 1% VAT can be claimed as Input credit.

Please wait for others to comment on the same.

 

 

Regards,

Devendra Kulkarni

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T S D ( )     26 April 2012

T S D
 
 21 likes  236 points

View Profile | My Other Post

Thank you for your response. Can you kindly elaborate?

Rakesh Panwar (Executive Accounts)     03 May 2012

Rakesh Panwar
Executive Accounts 
 23 points

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Dear Expert I am working in Hotel Industry, my question is that can we claim Vat Input on charcoal using in tandoor for making tandoori items and naan etc Rakesh Panwar


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