INVAT VAT SETOFF
This query is : Resolved
04 October 2007
Dear Sir,
Input MVAT setoff availabe for Oxygen Gas purchase @ 4% on Manufacturing industry of Transformer ?
Thanks
Deepak
Input MVAT setoff availabe for Oxygen Gas purchase @ 4% on Manufacturing industry of Transformer ?
Thanks
Deepak
12 November 2007
If the gas is used in relation to the manufacturing of final product, yes MVAT can be availed, moroever anything debited to profit and loss account is eligible for MVAT.
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