WE have purchased car in the name of director of company. Payment has been done from our private limited company accounts. How VAT (12.5%) will be calculated on this car purchase while filling return for VAT (six monthly)? How much input of VAT can we claim?
1 Replies
CA Amit K. Ganar
(Practicing FCA)
(146 Points)
Replied 22 April 2015
VAT on sar is specifically disallowed under rule 54(a). Do not dare to take set off at all.
Secondly when car is on name of director, how a company can take set off of the car when the invoice is not raised on company? even though the company paid amount on behalf of director.
These payments will be considered as advance to director or payment against salary.
Recent Topics
- Iska djd djrbdsjebshe sir ur rei ejr reinr the jr
- GST registration for medical shop in Karnataka
- Hsshs me know if you are free number of the
- Chu Kang and the situation of the situation and I
- How to reverse wrong transaction payment in phonep
- Paytm wrong transaction
- How to reverse wrong transaction payment in phonep
- Issue with refund for person who has filed for rel
- How to take ITC for October 2024 GST Payment in PM
- How to refund a wrong transaction Phone Pe?
Related Threads
CAclubindia
