VAT Set-off on Capital Purchase

Hi...

Its same as CENAVT CREDIT on Capital goods....U can take 50% credit in first year and 50% in next year...

Something is wrong.

I am asking for eligible set-off  under Maharashtra VAT for capital purchase

I had read somewhere that we can claim balance % ( after deducting 4 % from tax amount ) as set-off.

Kindly clarify

Amit

After deducting 3% from 12.5%or 4% remaining set off is available i.s 9.5% & 1%

For the F.Y. 2008-2009 shall we take balance 10.5% ( 12.5% - 2% ) or 2% ( 4% - 2% )

Because the CST rate has been reduced to 2% from June onwards.

My question is , the % which we are deducting must be similar to CST rate. Because in F.Y. 2005-2006 we are dedudting 4% , in F.Y. 2006-2007 we were deducting 3% which is equivalent to CST rate equivalent to that year.

Amit

Dear Amit,

You are right on that part, but there is no amendment in the rules till now, so you continue with " Three percent". when the notification or amendment will be done than you only take changes.

but y we are taking cst rate as base amt vide  claiming thr vat set off agst purchase of capital good.

but y we are taking cst rate as base amt vide  claiming thr vat set off agst purchase of capital good.

what are set off capital goods are purchased @ 4% set off are 1% , 3% are not allowed in set off thus 3% are increse in capital goods.

reply please.

23 Jan 2010 ... After deducting 3% from 12.5%or 4% remaining set off is available i.s 9.5% & 1% ... but y we are taking cst rate as base amt vide claiming thr vat set off ...

Dear All,

What is the set off % avaliable on Purchase of Computer in Maharashtra

Dear All,

What is the set off % avaliable on Purchase of Computer Capital goods in Maharashtra

Originally posted by : Amit
	For the F.Y. 2008-2009 shall we take balance 10.5% ( 12.5% - 2% ) or 2% ( 4% - 2% ) Because the CST rate has been reduced to 2% from June onwards. My question is , the % which we are deducting must be similar to CST rate. Because in F.Y. 2005-2006 we are dedudting 4% , in F.Y. 2006-2007 we were deducting 3% which is equivalent to CST rate equivalent to that year. Amit

 Dear Amit

I thing your are merging here the concept of  form F  related vat setoff. In that case  whatever you have written is simmilar to that.

FORM F  for branch stock transfer..

I thing amit mixing  the concept of vat set off  of FORM F because in such condition there is 2% of retention.

some what  this  is similar to as he was talking .