what is vat sett off? service tax?

Answer Posted / manisha

Vat or Service Tax Set off means during the financial year
how much Vat or Service Tax you have charges- how much Vat
or Service Tax you have recevied

Vat or Service Tax Set Off= (Opening balance (if any)
+(Receipt of Vat or Service Tax) - Payment of Vat or
Service Tax

and we need to pay the access amount to the goverment

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