02 September 2009
Hello, One of my client ( Manufacturing Unit in MAHARASHTRA) constructed Factory Shade which is for business purpose,he paid input Vat at the time of construction,can we take full set off of vat paid? Please tell me the procedure for same.
11 September 2009
Rule 52(1)(a) allows entitles set-off for capital assets also. But under Rule54(g) & (h) set-off is not allowed for immovable property other then Plant and Machinery. Refer the rule and see if they are applicable to you.
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