Reduction in vat set off for branch transfer
This query is : Resolved
11 March 2012
Dear Sir
We have a factory at Shirwal (Maharashtra) and our other units are located at Gurgaon, Dehradun.
We used to send some material to these units under Form F i.e. Branch Transfer.
My question is at what % & extent we should reduce vat set off? Does this reduction is applicable to Vat set off on Fixed Assets, Repair & Maintainance items?
Thanx
We have a factory at Shirwal (Maharashtra) and our other units are located at Gurgaon, Dehradun.
We used to send some material to these units under Form F i.e. Branch Transfer.
My question is at what % & extent we should reduce vat set off? Does this reduction is applicable to Vat set off on Fixed Assets, Repair & Maintainance items?
Thanx
11 March 2012
Mr Suhas D,
It is 2% now. It is not applicable for fixed assets and other items...MJK
It is 2% now. It is not applicable for fixed assets and other items...MJK
12 March 2012
Respected Sir
Can you provide specific rule no under MVAT act applicable, as our VAT auditor is reducing the set off on fixed assets purchase also.
Regards
Can you provide specific rule no under MVAT act applicable, as our VAT auditor is reducing the set off on fixed assets purchase also.
Regards
12 March 2012
Mr Suhas D,
Please see subrule 3 of rule 53 of Maharashtra VAT Rules 2005....MJK
Please see subrule 3 of rule 53 of Maharashtra VAT Rules 2005....MJK
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13 March 2012
Thanx a lot for your support sir
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