setoff
This query is : Resolved
25 January 2010
my assessee is engaged in poha industries in bombay having no vat on purchases & sales.On some exps vat is to paid by client say Rs.25000
can i take the refund & how it to be shown in the audit report 704
can i take the refund & how it to be shown in the audit report 704
26 January 2010
Your client is engaged in manuffacturing of tax free goods. Some corresponding taxble goods may be purchaed like packing material on which VAT is paid. You can take set off on such purchases after reducing 2%.
On capital asset full set off can be taken except building and office equipment.
For more detail study rule 53(2)and also read the def of corresponding taxable gooda as per rule 53
Regards
On capital asset full set off can be taken except building and office equipment.
For more detail study rule 53(2)and also read the def of corresponding taxable gooda as per rule 53
Regards
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Supply through E-commerce Operators
- STCG....................................................
- TAN for Partnership
- Sales return eway bill
- Relief u/s Section 89
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- REGARDING GST LIABILITY/....
- LTCG for Assmt year 26-27
- STCG FOR GOLD ETFs
- SALE BILL AGAINST GOODS RETURN
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
