Pls urgent,
Whether VAT paid on input can be set off against excise payable on final product ?
and Whether EXcise paid on input can be set off against VAT Payable ?
Pls provide me the document supportings views.?
ACMA Obulirajan R
(M.Com, ACMA)
(1119 Points)
Replied 14 May 2010
Dear Ameet,
VAT paid on input tax can be settoff against only on VAT payable amount not on Excise duty payable..
and
Excise duty paid and service tax paid on input tax can be settoff against only on Excise duty payable amount not on VAT duty payable..
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