Poonawalla fincorps
Poonawalla fincorps

different rates of input with out put

This query is : Resolved 
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(Querist)
04 January 2010 Whether 4% of input can be set off with 1% of output tax so on.
pl. attached the data if possible.
tanks & best regards
gopal
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Vishnu Saboo

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Vishnu Saboo (Expert)
08 January 2010 i beleive there is no as such restriction that 4% inout vat should be setoff with 4% output tax only.
you can set of this against 1%, 12.50% or whatever output tax percentage leviy on your product.

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