Reduction in vat set off for branch transfer

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Suhas Deshmukh (Querist)
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11 March 2012 Dear Sir

We have a factory at Shirwal (Maharashtra) and our other units are located at Gurgaon, Dehradun.
We used to send some material to these units under Form F i.e. Branch Transfer.
My question is at what % & extent we should reduce vat set off? Does this reduction is applicable to Vat set off on Fixed Assets, Repair & Maintainance items?

Thanx

MJ Krishnamurthy

MJ Krishnamurthy (Expert)
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11 March 2012 Mr Suhas D,
It is 2% now. It is not applicable for fixed assets and other items...MJK

Suhas Deshmukh

Suhas Deshmukh (Querist)
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12 March 2012 Respected Sir

Can you provide specific rule no under MVAT act applicable, as our VAT auditor is reducing the set off on fixed assets purchase also.

Regards

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MJ Krishnamurthy

MJ Krishnamurthy (Expert)
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12 March 2012 Mr Suhas D,
Please see subrule 3 of rule 53 of Maharashtra VAT Rules 2005....MJK

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Suhas Deshmukh

Suhas Deshmukh (Querist)
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13 March 2012 Thanx a lot for your support sir