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VAT ITC credit of Forklift

VAT and Sales Tax - Started By: - Parth Bhatt - Dated:- 25-9-2016 Last Replied Date:- 30-9-2016 - Dear ExpertsPranams. This is Parth Bhat from Ahmedabad.I am Tax Accountant in a automobile ancilliary manufacturing company.My question is whether forkl .....

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nt being second hand goods . Plant n machienry phrase is nt defined in act neither many judgements of guj highcourt spot light on intrpretation of plant n machinery in connection with forklift/other material handling equipment. Kindly guide me in th .....

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anufacture of taxable good and accounted as capital assets in the books of account; Thus, plant and machinery which are meant for use in the manufacture of taxable goods and which are accounted as capital assets in the books of account are capital go .....

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er, road roller, fork lift, chain mounted drilling machine, pipe layer and bulldozer are classified as motor vehicles As per judgment dated 15.7.2011 of the Honourable Gujarat High Court in the case of Reliance Industries Ltd. V/s State of Gujarat (S .....

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vehicles, then, cannot be classified as Plant & Machinery. Hence, Input Tax Credit is not allowed. - Reply By Ganeshan Kalyani - The Reply = Section 2(5) defines capital goods and capital goods is defined as say plant and machinery.Section 11 (5 .....

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