Dear Friends,
Whether VAT on Fixed Asset total credit available in the same year in which asset is purchase in as per MVAT Act?
Sanjeev Parasrampuria (B.Com CA Final CS Final) (273 Points)
08 June 2012Dear Friends,
Whether VAT on Fixed Asset total credit available in the same year in which asset is purchase in as per MVAT Act?
VINOD M. KHANDE
(manager-commercial)
(33 Points)
Replied 19 June 2012
Yes you can avail the 100% of ITC paid on purchase of fixed in the same year and subject to
the retention on assest like furniture and fix. off eq. etc.
"Live Course on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
CAclubindia
