Vaibhav Jandey (Life iz Hard; I'm Harder) (1175 Points)
11 September 2012
Hello friends, I want to know whether I can set-off the VAT which I got from purchasing the materials with the VAT I got from selling the Flats to customers? It's a query related to construction business. Please reply.
Harshal Fifadra
(Chartered Accountant)
(1489 Points)
Replied 11 September 2012
Since you are selling flats to the customers , you can claim set off for the materials purchased ,however, you will have maintain a regular books of accounts for claiming the set off ...
Ok....
Vaibhav Jandey
(Life iz Hard; I'm Harder)
(1175 Points)
Replied 12 September 2012
| Originally posted by : Harshal | ||
 |
Since you are selling flats to the customers , you can claim set off for the materials purchased ,however, you will have maintain a regular books of accounts for claiming the set off ... Ok.... |
 |
Thank you for your reply..
CAclubindia
