31 December 2009
Hi there. I have some query in relation to abatement under VAT.
What is the relevant section for abatement under VAT? How is the percentage of abatement determined? Is such dealer eligible for setoff on input services and goods?
04 January 2010
In MVAT Act Rule 53 governs abatement which is commonly refered to as Reduction. Percentage of reduction is 2% except in case of fuel and office equipment and furniture for which rate is 3% Regards
CAclubindia
