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Set off of VAT

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Querist : Anonymous

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Querist : Anonymous (Querist)
26 January 2010 Other then purchase, any expendutire (for the purpose of carrying of business )incurred by the company on which MVAT is paid then set-off can be taken on such expenses like hotel exp,motor car repair and maintenance,computer use in office etc
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CA Deepak P. Agrawal

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CA Deepak P. Agrawal (Expert)
26 January 2010 See you cannot claim set off relating to passenger motor vehical or expenses in relation to that as per Rule 54.
Hotel exp does not ammount to corresponding taxable goods.
As regards office equipment is concerened e.g. compputer etc. you can claim st off after making 3% reduction.
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