https://www.taxtmi.com/forum/issue?id=2874 Whether an assessee may claim Input VAT Credit on acquisition of fixed assets depends on the relevant State VAT statute and its implementing rules, with States varying in approach: some permit credit subject to conditions, others prescribe pro rata mechanisms or disallow credit and require VAT to be capitalised. Availability often turns on whether the asset is used in the direct furtherance of taxable supplies or for indirect or exempt activities. en-us Mon, 07 Mar 2011 14:04:56 +0530 Thu, 23 Jan 2025 15:58:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=2874 Whether an assessee may claim Input VAT Credit on acquisition of fixed assets depends on the relevant State VAT statute and its implementing rules, with States varying in approach: some permit credit subject to conditions, others prescribe pro rata mechanisms or disallow credit and require VAT to be capitalised. Availability often turns on whether the asset is used in the direct furtherance of taxable supplies or for indirect or exempt activities. Discussion-Forum VAT / Sales Tax Mon, 07 Mar 2011 14:04:56 +0530 https://www.taxtmi.com/forum/issue?id=2874