19 April 2012
Ours is a service oriented concern having service charges as 99% income in the P&L. when we are selling fixed assets, can we adjust the vat paid on the sales of fixed assets against the inputvat on bills receive by us against some other purchases made by us during the course of business
20 April 2012
Thanks Mr. Pawan, we are registered under VAT, My querry is we are a service oriented unit whether we can adjust the input vat on other purchases against the output tax paid by us on sale of fixed assets.
CAclubindia
