cliam of vat

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saravanan (Querist)

15 July 2011 i am filling monthly A-1 return regularly under TNVAT Act. I am selling the sold goods against form H only and claimed the input against local purchases regularly.So always i am having excess credit only and carried forward the credit regularly.i have not filled form w sofar since i donot need the refund and i want to adjust the excess credit against my local taxable sales in future.whether my view is correct or not
somethem threatned me that you can claim the excess credit only by filling Form W .
advise me
to my email id saranaudit@yahoo.com

MJ Krishnamurthy

MJ Krishnamurthy (Expert)

17 July 2011 Mr.Saravanan,
When you buy any goods by paying local taxes and sell them against form H,naturally excess input tax credit arises.Whether you ask for refund or adjust it against any other payments is one-and-the-same.So you can deduct such excess input tax while making tax payments on other local sales.
MJK

saravanan

saravanan (Querist)

11 September 2011 Thank you Sir for Reply
Please Kindly send any case Law ,Relevant section,rules,circular,notification

MJ Krishnamurthy

MJ Krishnamurthy (Expert)

12 September 2011 Mr Sarvanan,
Please refer to Sections 18 and 19 of TN VAT Act 2006 for your information.
MJK

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