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of <h1>Delhi VAT Act 2004: Tax Credit Rules for Dealers, Including Exclusions and Special Provisions for Capital Goods</h1> The Delhi Value Added Tax Act, 2004, outlines tax credit provisions for registered dealers. Dealers can claim tax credits on purchases used for taxable sales under specific conditions, excluding purchases from unregistered dealers, non-creditable goods, or goods intended for building structures. Tax credits are proportionally reduced if goods serve mixed purposes. Dealers must hold tax invoices to claim credits and adhere to prescribed methods for calculating credits. Special rules apply to capital goods, including phased credit allowances and adjustments for transfers. Credits are denied for goods used solely for exempt sales or claimed as depreciation under the Income Tax Act.
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