https://www.taxtmi.com/forum/issue?id=4086 Where software licences are capitalised and treated as capital goods used in the course of taxable business, input tax credit is consistent with the TNVAT Act definition of input tax and the allowance for credit on capital goods; however, due to absence of an express statutory denial, seek consultant advice or obtain departmental clarification or an advance ruling before claiming the credit. en-us Thu, 26 Apr 2012 09:45:35 +0530 Thu, 23 Jan 2025 15:58:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=4086 Where software licences are capitalised and treated as capital goods used in the course of taxable business, input tax credit is consistent with the TNVAT Act definition of input tax and the allowance for credit on capital goods; however, due to absence of an express statutory denial, seek consultant advice or obtain departmental clarification or an advance ruling before claiming the credit. Discussion-Forum VAT / Sales Tax Thu, 26 Apr 2012 09:45:35 +0530 https://www.taxtmi.com/forum/issue?id=4086