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Set -off of VAT paid on repair of office

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Querist : Anonymous

Querist : Anonymous (Querist)

04 March 2010 Hi,

Whether Set -off can be avail of VAT tax paid on repair and maintenance of office premises ( Shop ).

If yes then how much percentage ?

Thanks

CA Umesh Sharma

CA Umesh Sharma (Expert)

04 March 2010 As per rule 52 of MVAT rules 2005, full setoff is available on amount debited to profit and loss account. A debate is on repaires to building, being an immovable property,as per rule 54(g) were no setoff is available. The rule 54 starts with wording "No set-off under any rule shall be admissible in respect of", hence no setoff may be available on repairs of office premises (Shop).

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