VAT set off Maharashtra
This query is : Resolved
08 July 2010
Dear all,
i'm a automobile dealer, can i get VAT set off on purchases of printing & stationery for office use & other Office item.
Thanks in advance.
Thanks & Regards
Mahendra.
i'm a automobile dealer, can i get VAT set off on purchases of printing & stationery for office use & other Office item.
Thanks in advance.
Thanks & Regards
Mahendra.
Jitesh S Jain
(Expert)
09 July 2010
Yes
You will be eligible to claim Set Off on P & S Purchased & debited to P & L A/c. provided Valid & effective Tax Invoice is issued to you .
Abt Other Office items: If Capital Expenditure -then set off can be claimed after 3 % retention u/r 53(7).
If item of Revenue Exp. & debited to P & L full set off can be claimed subject to rule 54 (negative List Items like Spare Part of Motor Car etc.
You will be eligible to claim Set Off on P & S Purchased & debited to P & L A/c. provided Valid & effective Tax Invoice is issued to you .
Abt Other Office items: If Capital Expenditure -then set off can be claimed after 3 % retention u/r 53(7).
If item of Revenue Exp. & debited to P & L full set off can be claimed subject to rule 54 (negative List Items like Spare Part of Motor Car etc.
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