Vat on discounts whether allowed as set-off

Ravi Kumar (Dy.Mgr) (25 Points)

23 September 2011  

We are into selling of Cement, to a large network of dealers in Maharashtra, We are Passing Credit Notes to the dealers at the end of the month like Price Difference &  Quantity. If we pass the credit notes to dealers with VAT Credit, can we avail Set Off on this from the MVAT Payable.