Setoff
This query is : Resolved
10 August 2010
Hi,
We import goods and supply to various dealer as a result we do not get setoff on Vat. Can we take setoff of Expenses,Fixed asset and what percentage is allowed
We import goods and supply to various dealer as a result we do not get setoff on Vat. Can we take setoff of Expenses,Fixed asset and what percentage is allowed
10 August 2010
VAT on capital goods is allowed in certain states, may be over a number of years in a phased manner.
In respect of VAT paid for indirect expenses, generally VAT offset is not allowed.
In respect of VAT paid for indirect expenses, generally VAT offset is not allowed.
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