Negative list of vat



what is nagetive vat.

 
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WHEN INPUT VAT CREDIT IS MORE THAN THE OUTPUT TAX THEN IT IS SOME TIMES CALLED VAT.. WHICH IS TO BE SET OFF FROM CST AND ANY SURPLUS IS BROUGHT FORWARD TO NEXT YEAR

 
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ACCOUNTS EXCECUTIVE

Negative list means "List of goods on which Input vat credit is not available"

 

Regards

Dayananda

 
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Agree with daya

 
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Finance Incharge

BANSAL IS RIGHT

 
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