OUR CLIENT(COMPANY) BASED AT ANDHRA PRADESH IS CONSTRUCTING A COMMERCIAL COMPLEX CONSISTING OF SHOPPING COMPLEX, LODGE, RESTAURENT, FUNCTION HALL. CONSTRUCTION IS BEING ON THE LEASE HOLD LAND. IT IS NOT HAVING VAT LICENSE. NOW THE ISSUE IS THAT IF THE COMPANY OBTAIN THE AP VAT LICENSE THEN ON THE MATERIAL IT IS BEING PURCHASING FOR CONSTRUCTION WHETHER INPUT VAT CAN BE TAKEN OR NOT. IF IT IS TAKEN THEN IN SUCH A CASE THE INPUT VAT WILL BE CLAIMED ONLY AFTER COMMENCEMENT OF THE ACTIVITY. HOW MANY YEARS THE INPUT VAT CAN BE CLAIMED.
AS THE CLIENT ALREADY PURCHASED SOME MATERIAL, CAN IT TAKE INPUT VAT ON THE MATERIALS PURCHASED BEFORE OBTAINING THE VAT LICENSE.
PLEASE SUGGEST ME IN THIS REGARD IN DETAIL.
CAclubindia
