Set -off of VAT paid on repair of office

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

04 March 2010 Hi,

Whether Set -off can be avail of VAT tax paid on repair and maintenance of office premises ( Shop ).

If yes then how much percentage ?

Thanks

CA Umesh Sharma

CA Umesh Sharma

(Expert)
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04 March 2010 As per rule 52 of MVAT rules 2005, full setoff is available on amount debited to profit and loss account. A debate is on repaires to building, being an immovable property,as per rule 54(g) were no setoff is available. The rule 54 starts with wording "No set-off under any rule shall be admissible in respect of", hence no setoff may be available on repairs of office premises (Shop).