Dear all
Can anyone clarify whether VAT and Service Tax paid of purchase of SAP software is eligible for set off.
Thanking You
1 Replies
Harshal Fifadra
(Chartered Accountant)
(1489 Points)
Replied 11 September 2012
No the VAT paid for the purchase of software is not eligible for set off since the same is covered under the negative list of MVAT Act,2002
You may refer to the respective negative list of the state act to verify whether software is covered under negative list or not ......
ok....
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