vat credit
This query is : Resolved
31 January 2009
A company providing lab services liable to service tax, for the purpose it uses consumables on which VAT is levied and paid. Could such company take a setoff of vat paid agst service tax payable
CA. B.SRINIVASULU
(Expert)
31 January 2009
No vat payment cannot be allowed to set off against service tax.
Service tax is payable to central government under indirect taxes.
Whereas vat is payable to concerned state.
That is why set off is not possible.
Service tax is payable to central government under indirect taxes.
Whereas vat is payable to concerned state.
That is why set off is not possible.
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