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set off vat

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(Querist)
02 December 2009 Is any goods on which i paid vat i get set off or set off is get only on those goods which are related to my business Please advice

Thanking you,

swati
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CA SURENDRA KUMAR RAKHECHA

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CA SURENDRA KUMAR RAKHECHA (Expert)
02 December 2009 Set off of vat is available for those goods which are related to your business.

If you are running two proprietory concerns- in one VAT is payable and in second VAT is Credit; then also set-off is available.

For your personal used items; VAT is not set off. Because it is indirect taxation.

CA RAKHECHA
SURAT
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