Dear Sir, if a dealer in a composition scheme charges full 12.5% of vat and not mentioned in a bill that he is in composition scheme and we have claimed the said vat as set off. than after department letter comes that because the dealer is in composition u cannot claim setoff and u have to pay the vat. what can be done in this case.?
Yeaa,you have to pay and you cannot claim it as setoff....Before purchasing you have to know clearly about the dealer from whom you are purchasing.....Purchases made from Small Composition dealer does not allow to claim as setoff....
But lets see what the experts advice here.........
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
View Details
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
View Details
CAclubindia
