Vat input credit on software license


T S D ( )     26 April 2012

T S D
 
 21 likes  236 points

| My Other Post

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

View Profile | My Other Post

i see no reason why u cant claim vat credit

 

avater

Devendra (Chartered Accountant)     26 April 2012

Devendra
Chartered Accountant 
 425 likes  4728 points

View Profile | My Other Post

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

avater

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

View Profile | My Other Post

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

avater

Amit Gupta (CA Business)     09 March 2015

Amit Gupta
CA Business 
 4 likes  164 points

View Profile | My Other Post

Download free demo of All India VAT Software to know the complete information.


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  




Popular Discussion


view more »