Set off

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Ninad (Querist)
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05 April 2016 person carrying business of hotel, he want to opt composition scheme rate is 5 % , can he claimed set off on equipments, furniture etc purchase against the scheme???

CA ANKIT GUPTA

CA ANKIT GUPTA (Expert)
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12 April 2016 Ninad

If a person opt composition scheme, then he cannot claim benefit of Input Taxes paid either of goods or Capital Goods.

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