VAT set off Maharashtra

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mahendra (Querist)
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08 July 2010 Dear all,

i'm a automobile dealer, can i get VAT set off on purchases of printing & stationery for office use & other Office item.

Thanks in advance.

Thanks & Regards
Mahendra.

Jitesh S Jain

Jitesh S Jain (Expert)
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09 July 2010 Yes
You will be eligible to claim Set Off on P & S Purchased & debited to P & L A/c. provided Valid & effective Tax Invoice is issued to you .

Abt Other Office items: If Capital Expenditure -then set off can be claimed after 3 % retention u/r 53(7).
If item of Revenue Exp. & debited to P & L full set off can be claimed subject to rule 54 (negative List Items like Spare Part of Motor Car etc.