Set off of vat on medicines in maharashtra

[Sagar Ambhore]

can retailer of medicines claimed for set off of vat on sales

AI Summary

Retailers in Maharashtra can claim VAT set-off if registered under MVAT; Input Tax Credit applicable per MVAT Act. A query was raised about whether a retailer of medicines in Maharashtra can claim a set-off of VAT on sales. The response clarified that if the retailer is registered with the Maharashtra VAT (MVAT) authority, they may claim Input Tax Credit according to the provisions of the MVAT Act and its accompanying rules.