Pls help me on the following query:
My cleint has incurred Rs.300000/- for angle, chanel, beam, and the same shown as aseets, what he will be eligible for set off under mvat act...and if yes reduction will be applicable or full set off will be given??
How are these materials ( as mentioned above ) been used in creating the asset ?
Whether these material used in factory building,if YES,then the input vat will not be eligible for set off.
How are these materials ( as mentioned above ) been used in creating the asset ?
Whether these material used in factory building,if YES,then the input vat will not be eligible for set off.
CAclubindia
