TaxTMI 
TaxTMI 
whether vat credit on transformer and its pannels, cables is available under rajasthan vat Act for manufacturer
vat credit on transformer and its pannels cables
14 Mar 2016 
2 Replies 
2623 Views Asked by
Capital goods VAT credit: eligibility for transformer and associated panels depends on qualifying as plant and machinery under VAT rules.
Availability of input tax credit for a transformer, panels and cables depends on whether they qualify as Capital Goods used in manufacture; one view permits credit if so used, another relies on Section 18 and the definition of Capital Goods to suggest credit may be disallowed because a transformer is not expressly specified, and recommends obtaining an advance ruling or departmental clarification. (AI Summary)
Availability of input tax credit for a transformer, panels and cables depends on whether they qualify as Capital Goods used in manufacture; one view permits credit if so used, another relies on Section 18 and the definition of Capital Goods to suggest credit may be disallowed because a transformer is not expressly specified, and recommends obtaining an advance ruling or departmental clarification. (AI Summary)