29 December 2015
We are a private limited company .company is in pre construction phase so not started yet taxable activities .We have applied for voluntary registration under MVAT act .Can Set off available on following expenses debited to P&L account for pre registration period : Repair & Maint Exp. Office Maint Exp Printing & Stationary addition to above Vat paid on Laptop and Furniture fixture Set off will available or not
29 December 2015
The set off will be available from the with effect date (w.e.f.) of the registration number. The application will come with effect from the date of application i.e.date on which the application is uploaded. So set-off can be availed during the pre registration period provided your date of registration is before the date on which set off is claimed i.e.your application should not be rejected.
CAclubindia
