input tax

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Querist : Anonymous

Querist : Anonymous (Querist)

16 July 2011 vat input tax is taken on purchase of building materials like iron, cement

CA. Ashish Bihani

CA. Ashish Bihani (Expert)
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16 July 2011 Please clarify your query.

Sunil Mate

Sunil Mate (Expert)
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16 July 2011 If you are talking about Setoff on Taxable Purchases used for Construction of Building then the answer is no.

Because the any Taxable purchases used for Building or Immovable Property (other than Plant & Machinery) is not allowed is in negative list under VAT Act.

Under Maharashtra Value Added Tax, the same will be disallowed U/s 54(h)