Mvat reduction of setoff query
This query is : Resolved
Amarjeet Pawar
(Querist)
22 May 2012
Rule 53 (1) states that taxable goods used as fuel then amount equal to 3% of the purchase price is reduced from available set off.
My query is what is the definition of fuel in the above sentence???
My query is what is the definition of fuel in the above sentence???
MJ Krishnamurthy
(Expert)
23 May 2012
Mr A Pawar,
Fuel is a substance which is ignited to run an engine or a bioler to produce electricity,steam,compressed air etc.for industrial purpose.....MJK
Fuel is a substance which is ignited to run an engine or a bioler to produce electricity,steam,compressed air etc.for industrial purpose.....MJK
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