28 November 2009
I would like to know the nature of expenses of which we can take setoff against our MVAT liabilities. Can anyone mail me the concern provision in MVAT Act. at ankit@vinergy.in
01 December 2009
Please refer to Rule 53 for reduction in set-off & Rule 54 non admisibility of Set-off as per Mahrashtra Vat Act. Any expenses debited to Profit & Loss A/c. will liable for set-off except Repairs to Building & Repairs to Vechile.
CAclubindia
