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Fixed assets setoff

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(Querist)
16 February 2012 Dear Expert,
Please guide how to claim set off of Fixed Assets.
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CA CS Pawan Jajoo

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CA CS Pawan Jajoo (Expert)
18 February 2012 Fixed asset are eligible for setoff subject to retention U/r 53. Some Fixed assets like building material, CAR are not eligible for setoff. Plant and Machinery are eligible for full setoff. as per MVAT

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