Poonawalla fincorps
Poonawalla fincorps

Set-off for Fuel

This query is : Resolved 
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(Querist)
30 December 2009 At what % reduction in set-off is made for fuel and how it is done?
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Vishnu Saboo

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Vishnu Saboo (Expert)
30 December 2009 No credit avilable on fuel, when it is used for power generation, i.e. if deisel is purchasesd for power generation, VAT credit is not avilable there.
apart of it @ 4% to be reduced on taxable purchases amount.
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Murtaza I Bhagat

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Murtaza I Bhagat (Expert)
31 December 2009 agree
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