Vat
This query is : Resolved
25 February 2014
can VAT paid be claimed as set off against EXCISE DUTY/SERVICE TAX collected.....if ys then I have a exmpl ti which I need ur ans.....
X is a manufacturer of spare parts he sells goods to Y a wholesaler and collects ED...then these wholesaler sells goods to TATA MOTORS and collects VAT.....now my question can X claim setoff for ED paid n VAT received.. .awaiting for ur replies EXPERTS
25 February 2014
VAT paid CANNOT be claimed as set off against excise duty liability and vice-versa.
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