vat as input credit

[Dipneet Kaur]

Does any vat paid can be claimed as credit.if not so , then what is the eligibility to qualify input vat credit

AI Summary

VAT Input Credit Restricted for Goods in DVAT 7th Schedule; Exceptions for Resale or Manufacturing. A query was raised regarding the eligibility of claiming VAT as input credit. The response clarified that under the DVAT Act, input tax credit cannot be availed for goods listed in the 7th schedule, which includes automobiles, fuels, clothing, food, beverages, entertainment devices, air conditioners, tobacco, office equipment, and certain other items. However, exceptions exist for registered dealers purchasing these goods for resale or manufacturing purposes in Delhi. The response was provided by a management and indirect tax consultancy firm.