Vat input credit on software license

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236 Points Joined July 2008

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?

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On 26 April 2012 at 09:45 Report
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Associate Finance
709 Points Joined January 2009

i see no reason why u cant claim vat credit

 

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On 26 April 2012 at 10:07
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Chartered Accountant
4780 Points Joined March 2009

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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On 26 April 2012 at 10:10
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236 Points Joined July 2008

Thank you for your response. Can you kindly elaborate?

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On 26 April 2012 at 16:00
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Accounts Resource person
32 Points Joined June 2009
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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On 03 May 2012 at 11:24


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