hi friendz

i'm assigned with up vat audit of company and i've doubts regarding purchases eligible for itc. i want to know that itc is available on what kind of purchases e.g. is vat paid on expenses like repairs, staff welfare eligible for itc. please explain is above said expenses are includable in turnover of purchases.
mailid:kapoorknidhi@gmail.com

one proprietership converted in to partnership firm.

what is effect of stock of this proprietership?

pleas give reply with relevent reference

Can we issue 3 c form in one quarter period against diff pur ref. ?

May i know that whether input tax credit is available on entry tax tax paid by the buyer ? If yes, Plz quote the relevant section of the act ..
Thanks !!

There is one sole Propritership which is being converted into partnership there was some stock in hand at the time of conversion what is the treatment of stock
will it attract Vat,or it will be regarded as Introduction of capital
CAN U PLEASE GIVE ME SOME REFERENCE OF SECTION

Sir,

I want to know whether Mvat is applicable on books(professional) sold,if yes then at what rate it will be charged & under which schedule it will fall and if the answer is no then plz give proper reference,Waiting for a prompt reply............!

I want to know whether Vat Audit for Jan 08- March 08 ( Under up Vat Act ) has been continued or abolished ?

CST Is Eligible for set off with VAT? if yes gives the norms behind that.

what is interest and penalty for delay in submitting of vat monthly returns under Composition and also some tax due.

Dear Sir/Madam

Our organisation is having VAT Credit of Rs.90 lakhs. During the VAT Audit Department restricted some input credit on ineligible items to an extent of Rs.5 lakhs. In addition to that they imposed penalty and interest on the said 5 lakhs rupees.

My question is can we set off the payable amount of Rs.5 lakhs against the input credit of Rs.90 lakhs ?
Can we set off the penalty and interest against input credit rather than paying the penalty and interest in cash/cheque ?

Pls clarify ASAP how can we fight with the department with respect to penalty and interest ?