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Input Tax credit on capital goods - Value Added Tax - VAT-CST

#1 Issue Id: - 873
Dated: 19-8-2008
By:- balasubramanian n
Input Tax credit on capital goods

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A plain reading of AP 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.

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#2 Dated: 19-8-2008
Input tax credit can be carried forward , and can be adjusted against the suceeding months taxes also.
#3 Dated: 25-8-2008
By:- V Ramanujam
You are right AP VAT Act/Rules does 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 c/fd to subsequent period.
#4 Dated: 12-11-2014
By:- soni joshi

can we claim ITC on capital goods??

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