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VAT set off

2120 views 9 replies

Sheetal

CA Final Student

74 Points Posted on 24 December 2007

Hi!

If the client do not have the original bills of purchases made in Mumbai on which MVAT has been charged by the vendor, can the client claim VAT set off of the same or Is Tax invoice bill is necessary fo availing VAT credit under Maharashtra value Added Tax Act? If yes, then please specify Section which clarifies same.

Thanks in advance.

Replies (9)

CA. O.P. Agarwalla

C.A.

2916 Points Posted on 24 December 2007

When ever you want to discuss about VAT, please mention the State. Normally, the section which deals with Input Tax Credit talks about such preconditions of availing ITC. For xample section 14 of Assam Value Added Tax Act, 2003.

CA Chaitanya

PRACTISING CA

4283 Points Posted on 25 December 2007

Sheetal first of all tell me from which state do you belong.

Manek Amit

370 Points Posted on 26 December 2007

hi sheetal, i think for gujarat section 11 is for taking input tax credit under GVAT Act 2003. and in the same tax invoice is necessary for taking input tax credit...

Phoolchand Mishra

Service

23 Points Posted on 27 December 2007

Hi, Sheetal, Original tax invoice is necessary for avail input tax credit.

Adv. S Sharma

Lawyer

574 Points Posted on 27 December 2007

hi first tell me how can an vendor cliam Input tax credit yarrr ITC can only be claim by the person who purchases the goods as i knwwwww

Guest

462730 Points Posted on 06 January 2008

can input vat on all capital googs be set off against all out put vat. please tell me.

Guest

462730 Points Posted on 06 January 2008

can input vat on all capital googs be set off ahainst out put vat. please tell me.

S.P.Mahanta

Internal Auditor

647 Points Posted on 08 January 2008

Broadly, input VAT on Capital goods can be availed against Output VAT subject to the condition that Input items purchased are against original Tax invoice & such have been used for value addition in manufacturing/processing.

CA. O.P. Agarwalla

C.A.

2916 Points Posted on 09 January 2008

Dear members, It is my humble submission that please, please..... mention the State to which the question or answer is related. As you know friends that all the VAT Acts in India are not same. Unspecific querry or reply may result in misinterpretation and may lead to.......