One of our supplier has paid differential VAT (12.5% instead of 5%) in Nov-11 pertaining to last year (2010-11) and issued Tax debit note to us for the same. Can we claim set off for the same? How?
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Sales tax vat set off on tax debit note
Replies (1)
VAT Rules varies from State to State, from ur post it is not clear in which State u have transations.
but the general rule is that u can claim set-off of VAT paid on all ur Input in order fullfill ur Output Tax liabilty.
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