Claim of deposit paid at the time of mvat registration.
This query is : Resolved
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?
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?
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.
https://mahavat.gov.in/Mahavat/MyFold/KNOWLEDGE%20CENTER/RULES/KNOW_RULES_MVAT/KNOW_RULES_MVAT_09_19_11_6_4_39PM.html
https://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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