Set off under mvat act

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(Querist)


25 May 2012

1. whether trader is eligible for setoff of petrol/diesel purchased and used in commercial vehicle i.e. transport. If yes what is the condition/procedure

CA CS Pawan Jajoo (Expert)


25 May 2012

Petrol and diesel are exempt commodity for last dealers, so they can not issue VAT Invoice, so you cannt take setoff.



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