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VAT on Fixed assets - Value Added Tax - VAT-CST

Issue Id: - 2874
Dated: 7-3-2011
By:- Narasimha Babu
VAT on Fixed assets

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Can i claim VAT on Fixed assets or i have to add back to Assets.

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Dated: 7-3-2011
By:- CA Rachit Agarwal

Claiminng of Input VAT Credit on Fixed Assets depends on the State VAT Law. Various states has its own way of allowing credit to the assessee. Further it also depends on the direct or indirect use of the Fixed Assets.

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