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Set off

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Querist : Anonymous

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Querist : Anonymous (Querist)
28 January 2015 What is exactly meaning of set off ?

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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
28 January 2015 it means you have already paid tax on either purchase of goods or inputs or capital goods and you have also some output tax payable on sale of goods so wat you have paid that much amount you do not have to pay again and what amount u have to pay gets reduced by such amount.
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