A query on input credit

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Hello everyone... When a person has paid a Vat on courier expenses can he take setoff for the same ...? also setoff for vat is available on what all things? A thanks alot ... -
Replies (2)

Hi Kesha Vat is not levied on courier Expenses.,it is service tax which is levied on courier services.you can take setoff of vat on all purchases which you use in business i.e manufacturing or trading, you can also avail setoff on purchase of Fixed assets used in Business subject to retention of sepecified percentage.

Thanks sir.

But i m quite sure that in some cases Vat is levied on courier charges as i had seen in one of my audits they had charged VAt on it & settoff was not claimed hence i Raised this Query ..

 


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