IN PUT VAT REFUND
This query is : Resolved
02 April 2009
WE ARE A DEALER BASED IN DELHI. SINCE MOST OF PURCHASES ARE DONE WITHIN DELHI AND ALL OUR SALES ARE INTERSTATE, WE ALWAYS END UP SEEKING A REFUND OF INPUT VAT. I WISH TO BE CLARIFIED WHETHER WE MUST NECESSARILY PAY OUR CREDITORS WHO HAVE CHARGED VAT IN THEIR INVOICES BEFORE CLAIMING REFUND? SUCH A POSITION IF I AM NOT WRONG DOES EXIST IN RESPECT OF SERVICE TAX. AN IMMEDIATE OPIONION IS REQUESTED
05 April 2009
Such provisions are not applicable to VAT.
Infact the payment terms with vendors is way beyond 90 days.
The intention of the Government is not to restrict the credit of VAT.
Infact the payment terms with vendors is way beyond 90 days.
The intention of the Government is not to restrict the credit of VAT.
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