i have purchase 2no. air conditioner & some other f\a for
office & pay vat according to bill can i take inpute vat
banifits in the quater returns what is the process for
taKEN BENFITS OF VAT.
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Answer Posted / satpal nalavade
Dear, you are input credit office equipment purchase but 3%
reduction on total input value.
for eg
assessable value 100
Vat 12.5
so 100@3% Rs.3 on 12.5% reduction made.
you are claim input only for 12.13 input vat (12.5-0.375)
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