Input tax credit-TNVAT

[yash arya]

Dear Sirs,

A manufacturer-dealer has purchased a Weigh Bridge with TNVAT tax and installed the same within factory premise. It is used to weigh Input materials inwarded and Final goods despatched from the factory. Please clarify whether the vat tax paid thereon is eligible for ITC under TNVAT Act ??? Kindly provide any circular/case law on this issue.

Thanks- Shekar R

AI Summary

Manufacturer Seeks ITC Eligibility for Weigh Bridge Under Section 19(2)(iv) of TNVAT Act 2006 in Factory Use A manufacturer-dealer inquired about the eligibility for input tax credit (ITC) under the Tamil Nadu Value Added Tax (TNVAT) Act for a Weigh Bridge purchased and installed within their factory premises. The equipment is used for weighing input materials and final goods. In response, a consultant advised checking Section 19(2)(iv) of the TNVAT Act, 2006, along with related sections and rules, to determine eligibility for ITC.