Can Complete Set-off of VAT Tax be claimed paid on purchase of Fixed Assets?? Or is there a ratio on claiming deduction of vat tax paid on purchase of particular Fixed Assets??
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Vat set-off on fixed assets
Replies (4)
It depends on state VAT Act. As per karnataka vat act entire credit can be taken on fixed asset and setoff can be done.
Regards
Dayananda
as per karnataka vat except the fifth schedule goods you can take entire credit on vat purchases (fixed assets goods) and its depend on business.
Yes it depends upon State Vat Act
yes its depend upon state vat act.in maharashtra state vat act yes its depend upon state vat act, in Maharashtra vat act 3% deduction can be taken from vat amount.
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