Tax paid on capital goods lying with agents to be allowed as credit

Tax paid on capital goods lying with agents to be allowed as credit https://www.taxtmi.com/acts?id=21694 Agents may claim input tax credit for capital goods of a principal lying at the agent's premises on the appointed day if the agent is a registered taxable person, both parties declare the stock in the prescribed manner and time, invoices were issued within the preceding twelve months, and the principal has either not availed input tax credit or has reversed any credit already availed to the extent of such capital goods. en-us Wed, 15 Jun 2016 16:05:07 +0530 Wed, 15 Jun 2016 16:05:07 +0530 TaxTMI RSS Generator Tax paid on capital goods lying with agents to be allowed as credit https://www.taxtmi.com/acts?id=21694 Agents may claim input tax credit for capital goods of a principal lying at the agent's premises on the appointed day if the agent is a registered taxable person, both parties declare the stock in the prescribed manner and time, invoices were issued within the preceding twelve months, and the principal has either not availed input tax credit or has reversed any credit already availed to the extent of such capital goods. Act-Rules Bills Wed, 15 Jun 2016 16:05:07 +0530 https://www.taxtmi.com/acts?id=21694