Excess input credit
This query is : Resolved
21 July 2013
Dear CaclubIndia
excess input credit is 5000/- for f.y.2012-13
can i use this input cr.as set off against my vat payable for f.y. 2013-14.if not what to do with this 5000/- ????
since its less than 1Lacs i cannot claim refund.
how long/hw many years can i use this excess input.or i can't use in the subsequent yrs.in case if Trading Co.in pune
thnx
excess input credit is 5000/- for f.y.2012-13
can i use this input cr.as set off against my vat payable for f.y. 2013-14.if not what to do with this 5000/- ????
since its less than 1Lacs i cannot claim refund.
how long/hw many years can i use this excess input.or i can't use in the subsequent yrs.in case if Trading Co.in pune
thnx
22 July 2013
Input credit is carried forward to next year
29 April 2014
see if this help http://taxguru.in/goods-and-service-tax/mvat-carry-refund-upto-rs1-lakh-fy-201112-fy-201213.html
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