What are the provision for VAT on petrol, diesel, etc in maharashtra?
Query relating vat provision
(Guest)
3 Replies
Raj Kr
(CA Final student )
(200 Points)
Replied 21 November 2012
As per White paper it is Floor Rate of 20% n u cn see from this link
https://www.capitalmarket.com/CMEdit/story49-0.asp?SNo=544531&sid=49&ssid=139&rbyear=2012
CS RAJESH C.CHOUDHARY
(ASSISTANT MANAGER)
(14607 Points)
Replied 21 November 2012
MVAT rate on Petrol is 20%.
Petrol, diesel etc whose price is fixed by the government are not governed by VAT.
Hence Input tax of diesel cannot be set off.. These are general principles and applicable to all states.
If you are a work contractor you can set off the all amount of purchase of diesel, petrol as consumable.
Regards,
RAJESH CHOUDHARY
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