Dear All,
can we take vat Setoff on diesel purchase, if yes / no pls. give me under which section.
Regards
NITIN BHERE
NITIN BHERE (Manager Accounts) (31 Points)
02 June 2009Dear All,
can we take vat Setoff on diesel purchase, if yes / no pls. give me under which section.
Regards
NITIN BHERE
RAJU
(LEARNER)
(1089 Points)
Replied 18 June 2009
In Karnataka, there is no VAT on Diesel. These items are continued to be governed by Karnataka Sales Tax Act. Since credit can be availed for VAT and not Sales tax, credit cannot be availed on sales tax paid for purchase of diesel
Live Course on Invoice Management System (IMS) - 2nd Batch(With Recording)
CAclubindia
