Set off
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 December 2013
can a set off be claimed for the purchase of items used for sales pramotion exp
16 December 2013
yes if vat is paid then allowed.
MJ Krishnamurthy
(Expert)
17 December 2013
Set off can be claimed only when the purchases are resold with tax liability or used in production of taxable goods.When they are used for sales promotion no sale is made or no invoice is raised. To that extent set off of input tax can not be claimed.....mjk
17 December 2013
Yes agreed with expert MJ
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Depreciation Chart Companies Act
- EPF ECR NEW FILE SEP 17TH 2026
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Utilisation Fy 25-26 TDS challans in Fy 26-27 TDS Return
- Capital Gail Exemption Certificate
- Import of Software Service.
- SECTION 393(3) TAX ON CASH WITHDRAWAL
- Capitalgain tax purposes for valuation report compulsory
- MSME disclosure and disallowance
- EPF ECR NEW RULES Sep 17th 2026
- Taxation of crypto futures in India Fy 2026- 2027
- Transfer of Physical Stock Between Two Proprietorship Concerns
- Unable to File TDS Q2 Return – New TRACES Portal Error
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
