can a company claim set Off VAT charged by the canteen contractor in the canteen bill?
shriram mehendale (Service) 01 July 2009
can a company claim set Off VAT charged by the canteen contractor in the canteen bill?
rajendra banwat (tax consultant) 02 July 2009
1. Yes Definately
2. Refer Rule 52 of MVAT Rule. As per the said rule " the goods the purchases of which are debited to Profit & Loss Account or trading account.
3. Payment to Canteen contractor do invlove Goods " food and beverage" so its covered under above.
4. Setoff is naturally avaliable subject to conditions of Rule 55 and section 48 of MVAT ACt 2002
Thats all for the pen at present
RBBanwat
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