banner_ad

Input tax credit

This query is : Resolved 
Profile Image

Profile Image

(Querist)
27 April 2009 Dear Friends,

we have 2 products - one product is exempted from vat and other carries 4% vat.

the item with 4% vat is in closing stock because of lack of demand....

i dont want to claim refund...but to take it forward the input credit in current financial year so that i can claim set off in this financial year ....can i do so...

or is it mandatory to claim refund at the end of the year.
Profile Image

Nilesh Damji Chheda

Profile Image

Nilesh Damji Chheda (Expert)
03 May 2009 Dear Deepa
As pe the Act,u can carry forward the refund from one period to another period in same financial year. however, it is mandatory to claim refund, if any, at the end of the financial year
Profile Image

Deepa

Profile Image

Deepa (Querist)
04 May 2009 Thank U sir...
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
26 May 2026
CA / MBA (Finance) / CMA / M.Com (Finance)

Sri Aurobindo Gnostic Centre of Education

New Delhi

CA

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details
Company
ARTICLESHIP 15 May 2026
ARTICLE ASSISTANT, TRAINEE AND PAID ASSISTANT

YOGESH KAPOOR AND ASSOCIATES

New Delhi

B.Com

View Details
Company
16 May 2026
Account & Audit Asst

RAHUL KHANDEBHARAD & ASSOCIATES

Nashik

B.Com

View Details
Company
08 May 2026
CHARTERED ACCOUNTANT

SHAH LADHA AND ASSOCIATE

Ahmedabad

CA

View Details
Company
11 May 2026
AUDIT INTERN

M/S K.K.KHANNA AND COMPANY

Noida

CA Foundation

View Details
Company
ARTICLESHIP 17 May 2026
CA Article /Trainee

Malik Sunil & co

New Delhi

CA Foundation

View Details
Company
ARTICLESHIP 15 May 2026
Audit Assistant / Article Trainee / Intern

SSGS and Associates

Chennai

CA Inter

View Details