Set-off for Fuel
This query is : Resolved
CA Harshad Deshpande
(Querist)
30 December 2009
At what % reduction in set-off is made for fuel and how it is done?
Vishnu Saboo
(Expert)
30 December 2009
No credit avilable on fuel, when it is used for power generation, i.e. if deisel is purchasesd for power generation, VAT credit is not avilable there.
apart of it @ 4% to be reduced on taxable purchases amount.
apart of it @ 4% to be reduced on taxable purchases amount.
Murtaza I Bhagat
(Expert)
31 December 2009
agree
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