TaxTMI 
TaxTMI 
Input Tax credit on capital goods
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....nput Tax credit on capital goods<br> Query (Issue) Started By: - balasubramanian n Dated:- 19-8-2008 Last Reply Date:- 12-11-2014 VAT + CST<br>Got 3 Replies<br>VAT / Sales Tax<br>A plain reading of A....
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....P VAT ACT and rules gives an impresion that Input Tax credit on capital goods can be claimed in one shot and not in installments spraed over a period. Is that correct. Can some one enlighten me. Repl....
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....y By T.SUNDARAM: The Reply: Input tax credit can be carried forward , and can be adjusted against the suceeding months taxes also. Reply By V Ramanujam: The Reply: You are right AP VAT Act/Rules does ....
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....not contain any specific provision that ITC on capital goods is to be spread over a period. Thus, you can avail ITC in one shot and if any excess remains after adjustment of liability, the same can be....
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.... c/fd to subsequent period. Reply By soni joshi: The Reply: can we claim ITC on capital goods??<br> Discussion Forum - Knowledge Sharing ....