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Vat setoff

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Querist : Anonymous

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Querist : Anonymous (Querist)
31 March 2012 A proprietorship business engaged in sales & installation of irrigation material. They purchased machinery for installation Rs. 15 Lacks from gujrat. Sales dealer add CST @2% in invoice. They can take setoff of CST paid on capital assets in vat return.
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CA CS Pawan Jajoo

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CA CS Pawan Jajoo (Expert)
03 April 2012 at present you can not take CST input setoff against any liability.
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Querist : Anonymous

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Querist : Anonymous (Querist)
05 April 2012 If assets (machinery) purchased from reg dealer from maharashtra state. Can we take full setoff of vat paid on machinery?
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CA CS Pawan Jajoo

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CA CS Pawan Jajoo (Expert)
06 April 2012 Yes you can take full setoff on Plant and Machinery of Local purchases.

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