29 October 2011
whether the set off available on the repairs & maintenance of vehicle used for the business ? if Yes , provide the Charging Section as well .
29 October 2011
Mr CK Shah, In most of the States such a set off is not permitted.It is allowed only in the case of an used vehicle dealer subject to some conditions. MJK
31 October 2011
Mr CK Shah, In KVAT Act Pl see Sec 11 and V schedule. Similarly many other Acts have made provisions.The idea is that input tax credit should be allowed on purchase of goods that are resold, used as raw materials in a manufacturing process(those go into the product), packing materials and capital goods with conditions only. MJK
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