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Can we take mvat credit of online purchase
We purchase some items online for office use and the Invoice charges us VAT. So can we take credit of same as the online party don't have our TIN or PAN ????
Replies (2)
Advisable not to take credit. Or take credit by contacting the party and sharing your TIN. You can Google party name address and contact them. Or you can get address from state vat website by putting TIN.
Agree with Raj, dont take Setoff of VAT.
Depending on cost of item, capitalize the full invoice value or put full invoice value in revenue expense.
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