Quarry relating vat credit on capital goods.

Dharmesh A Gandhi (Querist) 09 January 2012 This query is : Resolved
My campany is linked with manufacturing of Polyester Film. For the purpose the machinery (Imported) & Indiginous. Can we take Vat credit..? Since the machinery comes in peacemeal manner,and we are capitalize in one head i.e. Plant and Machinery.

Follow Query

Report Abuse

Deepak Nair (Expert) 09 January 2012
Sorry to say that i am unable to answer this. But let's see what the experts have to say. I too am eager for the reply.

R K JAIN (Expert) 10 January 2012
Input of VAT credit on the plant and machinery purchased within the state can be claimed if the plant and machinery is used for the manufacturing of the taxable goods for sale.