Carry forward of vat refund
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 October 2012
I have vat refund of Rs 230000 in the financial year 2011-12 now this year can i carry forward upto Rs 99000 as I otherwise I will be liable to pay tax and claim refund for the balance amt
28 October 2012
Adjust the refund against your liability and still there is refund then you have claim it within statutory time otherwise it will not accept on line. Kindly note that no refund will be given even if you visit the office several times so the appropriate advise is that adjust the amount is next year but do not forget to file refund claim in time.
29 October 2012
Maharashtra Value Added Tax Act, 2002 prohibits the carry forward of the refund for the return period ending March-2012 of Financial Year to first return of the next Financial Year i.e. 2012-13.
VIDE TRADE CIRCULAR No.VAT /AMD-1012/lB/Adm-8, Date: 21/04/2012 (Cir. No.6T of 2012)Assessee is allowed to carry forward of the refund claim up to rupees one lakh for the return period ending March-2012 to the first return of the next financial year i.e. 2012-13. Carry forward of refund to subsequent year is restricted up to one lakh only.
VIDE TRADE CIRCULAR No.VAT /AMD-1012/lB/Adm-8, Date: 21/04/2012 (Cir. No.6T of 2012)Assessee is allowed to carry forward of the refund claim up to rupees one lakh for the return period ending March-2012 to the first return of the next financial year i.e. 2012-13. Carry forward of refund to subsequent year is restricted up to one lakh only.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CG Tax On residential property
- Post Office RD Interest
- Applicable TDS for Purchase of Flat from NRI
- Eway bill for machinery reparing
- Building and other construction workers welfare cess act 1996
- Gift of mutual fund units to daughter
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- Bank Accounts in Balance Sheet for ITR 3
- Reporting of STCG on Property in ITR
- Annual return of gst limit
- Capital gain of property recd from partnership firm
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
