Vat set off
This query is : Resolved
15 August 2012
if a proprietor has transferred his stock to his newly formed company, whether vat set off is available to such newly formed company without invoice being raised by the former.
15 August 2012
VAT can claimed only if it is mentioned on the face of invoice.
If the new company was created by way of conversion of proprietory firm into company, then new company can avail the benefit of VAT input credit.
If not new company can't take vat input credit.
If the new company was created by way of conversion of proprietory firm into company, then new company can avail the benefit of VAT input credit.
If not new company can't take vat input credit.
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