We are a advertising company.
We receive the vat bills of printing & charge VAT on output printing bills. What else can be the credit to set off the output VAT.
We have unutilised credit of Sales promotion activities & Stationary etc. can i take this to set off my liability
No credit can be availed toward sales and promotional and stationery items. Credit can only be availed inr respect of inputs i.e raw material consumable etc. used in manufure of taxbale commodity
thanks for answer!!
can u please tell me the rule or anything relating to act then please tell me.
1/ My opinion differs littlebit from Mr. kapil Dev with due respect to him.
2. VAT credit can be definatley taken on sales promotional activaties on which VAT Input tax is there, subject to rules and provisions of the Act.
3. Rule 52 50 54 of MVAT Rules are basically for the same.
thats all for the pen at present
CAclubindia
