Crane Purchase, VAT + CST

[Vimal Goel]

We are a steel trading firm in Bangalore, having VAT registration.

Now we have purchased a new Crane (From Bangalore - For Own Use) where the manufacturer has charged us VAT at the rate of 14.5 percent .

Can we claim the above 14.5 percent VAT as regular input tax.

Request the forum panel to please suggest/guide on weather I can claim the same.

 

Thanks - Vimal Kumar Goel +91 9900554321

Posts / Replies

[VIKAS KAPOOR]

on Capital Items also  can have the Input vat Credit.  All the VAT Credit can not be claimed at a same time. Kindly check in your state tax rules, usually it is 50 percent on same year 25 percent in next year & bal 25 percent in 3rd year.

pls go thru with Karnataka vat Rules.

Regards.. Vikas kapoor