Vat setoff
This query is : Resolved
Querist : Anonymous
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.
03 April 2012
at present you can not take CST input setoff against any liability.
Querist : Anonymous
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?
06 April 2012
Yes you can take full setoff on Plant and Machinery of Local purchases.
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