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Interstate purchase and sales in local

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Querist : Anonymous

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Querist : Anonymous (Querist)
01 July 2012 we purchase electronic items from other states on VAT @ 5%, and we sale it in maharashtra, can we take setoff with VAT on local sales.
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CA RICHA BADALIA

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CA RICHA BADALIA (Expert)
02 July 2012 No,it cannot be set off .
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RENGARAJ R.K

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RENGARAJ R.K (Expert)
23 July 2012 The main ingredient of the Set-off (Input tax credit) is - the products should be purchased within the state from the registered dealer. Such products should be for resale or consumption in the production.

Therefore interstate purchases are not eligible for set-off as correctly said by CA Richa Bothra.
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