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Vat on fixed assets

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Querist : Anonymous

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Querist : Anonymous (Querist)
16 October 2011 We caring business as a dealer of tiller (small tractor for agriculture use)our purchases out of india (import). we purchased van (small car) for demo use. can we take vat setoff on purchase of car for business use.
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MJ Krishnamurthy

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MJ Krishnamurthy (Expert)
17 October 2011 Mr. Author,
A motor vechicle purchase,used in business in any form,other than bought for sale(dealer) is not eligible for set off of vat paid.
MJK

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