Claim of deposit paid at the time of mvat registration.

This query is : Resolved

Rishi Agrawal (Querist)
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31 March 2016 An organisation applied for VAT Registration paying a deposit of Rs.25000/- in the year 2012, stating that the deposit will be received back after a period of 3 year. The receipt of the same was received by the organisation during the advisory visit.
Now three years have elapsed from the date of registration.
1) What is the procedure to claim back the amount of Deposit?
2) Can the same be adjusted against the MVat Liability of the organisation?

Amol S Joglekar

Amol S Joglekar (Expert)
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31 March 2016 Apply for the refund of deposit to the concerned STO. With effect from 01/05/2011, the said deposit can NOT be adjusted against your liability.
http://mahavat.gov.in/Mahavat/MyFold/KNOWLEDGE%20CENTER/RULES/KNOW_RULES_MVAT/KNOW_RULES_MVAT_09_19_11_6_4_39PM.html

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