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Can vat setoff claimed on purchases of advertiesment?

This query is : Resolved 
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(Querist)
25 April 2012 We publish advertiesment by way of Horading display for our Products.

While getting the flex printed, the vendors charge VAT separately. Can we take Setoff of the same in VAT returns?

As well as the advt. exp. we also distribute the gifts to our dealers to promote the sales.

Wheteher we can take setoff of both?
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CA CS Pawan Jajoo

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CA CS Pawan Jajoo (Expert)
26 April 2012 Mahavir Ji

You can take take Setoff of Expenses debited to Profit and Loss Account.If it is booked as exp.

If its capitalised then take setoff subject to Retention u/r 53 ( 7A ) as office equipment.
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Prakash Kochar

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Prakash Kochar (Expert)
26 April 2012 Agree with expert
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