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PURCHASE OF FIXED ASSETS THAT PURCHASE TO CLAIM THE VAT
PAYMENT ?

Answer Posted / dharmendra jha

Generally we consider the value of vat on purchase of fixed assets as a Value of Assets so the To Total Value of Assets should be (Cost of Assets + Vat)

And 2nd provision is also available in VAT Act,

We can claim the Vat amount as a CENVAT Credit on purchase of capital goods and it is 50% available for first year and remaining in other year....

Is This Answer Correct ?    23 Yes 1 No



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