If a Company having a canteen contractor who raises monthly Invoice with VAT 12.5% can the Company claim the Set Off.

Dear Sir,
As Member Of This Community this is my first letter in which i would like to have solution from the members on a case, the details of which are given below.

I have sold spares to 'A' Customer under VAT@12.5% The Details of Proforma Invoice, Payment Received & Tax Invoice are as below.

A) Proforma Invoice B)Payment received
Dated 2/7/2008 Dated : 4/7/2008
Spares : Rs. 7095 Spares : Rs. 7095
VAT@12.5% : Rs. 887 CST@2% : Rs. 142
Transport : Rs. 130 Transport: Rs. 130
Total : Rs. 8112 Total : Rs. 7367

C) Tax Invoice:
Dated : 27/7/2008
Spares : Rs. 7095
VAT@12.5% : Rs. 887
Total : Rs. 7982

Now i would like to know, how to treat the above situation when the company has filed IT Return On Tax Invoice amount Of Rs. 7982.00 (Under Vat Billing)& Payment RECEIVED from client Rs. 8112 ( Under CST Billing) The Company is in Loss Of Rs. 725.00

Kindly guide me the above situation & give me the solution

Thanking You
Regards
Jayesh Kharche
Nagpur

if we are software developmenrt company. And we purchase air conditioner VAt is charged on the bill.And we capitalised it to the Airconditioenr -Fixed Asser . Whether will we get set off for it?

if we are software developmenrt company. And we purchase air conditioner VAt is charged on the bill.And we capitalised it to the Airconditioenr -Fixed Asser . Whether will we get set off for it?

whether we can deduct vat wct at the time of advance payment to the contractor

I AM RUNNING A COUNTRY LIQUOR SHOP SINCE DEC 2007.

IN CURRENT FINANCIAL YEAR I CROSSED RS. 500000 LIMIT SO I TAKE REGISTRATION IN CURRENT YEAR.

BUT IN LAST YEAR I DID NOT TAKE REG. AS I AM BELOW LIMIT.

SO NOW QUESTION IS WHETHER I HAVE TO AUDIT UNDER MVAT FOR THE LAST YEAR ALSO EVEN THOUGH I AM NOT DEALER.

Clarifications regarding the new form

Is VAT audit applicable in the state of Assam or not?

i want to register my firm under (Delhi) VAT. So Which document i need to deposit in department. Please reply me.

Our's is a software company registered in Karnataka under VAT act. We intend to buy the fixed assets (FURNITURE & FIXTUES)from another software company who is also a dealer under VAT in karnataka.

These assets were purchased way back in 2001 during sales tax regime. Since this is becoming a second sales, the dealer has right to charge VAT? If yes, at what rate they should collect VAT and why?