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.
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
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