Input VAT adjustment against VAT payable
This query is : Resolved
09 March 2009
Sir,
In a school organisation where it is registered with VAT Kindly suggest the following :
As it is a residential school, we procure some material like Uniforms, books, edibles etc. every month. In most of the cases VAT is charged to us. We often issue uniforms OR books to the students and debit them along with the VAT charges. But it is seen that we are not taking credit of the input VAT. i.e. the vat recoverable is not adjusted when we pay the VAT as per schedule. My first query is :
WETHER WE CAN ADJUST THE VAT RECOVERABLE FROM 01.04.08 TO 31.03.09 AGAINST PAYMENT OF VAT FOR THE MONTH OF MARCH? CAN WE RECTIFY THE VAT RETURN TO BE SUBMITTED FOR THE LAST QTR.?
In a school organisation where it is registered with VAT Kindly suggest the following :
As it is a residential school, we procure some material like Uniforms, books, edibles etc. every month. In most of the cases VAT is charged to us. We often issue uniforms OR books to the students and debit them along with the VAT charges. But it is seen that we are not taking credit of the input VAT. i.e. the vat recoverable is not adjusted when we pay the VAT as per schedule. My first query is :
WETHER WE CAN ADJUST THE VAT RECOVERABLE FROM 01.04.08 TO 31.03.09 AGAINST PAYMENT OF VAT FOR THE MONTH OF MARCH? CAN WE RECTIFY THE VAT RETURN TO BE SUBMITTED FOR THE LAST QTR.?
09 March 2009
UNDER DELHI VAT YOU CAN ADJUST THE VAT FOR THE PERIOD YOU ARE FILING RETURN.
I.E. IF YOU FILE QUARTERLY RETURN THEN YOU MAY ADJUST VAT INPUT FOR THIS QUARTER ONLY. IF YOU HAVE ALREADY PAID THE TAX THEN YOU MAY CLAIM REFUND FOR THIS QUARTER ONLY.
FOR PREVIOUS TAX PERIODS YOU CANT REVISE THE RETURN. BUT YOU MAY CLAIM REFUND IN DVAT 21 FORM AND ON REJECTION FROM DEPARTMENT YOU MAY FILE OBJECTION IN DVAT-38 FORM AND GET REFUND
I.E. IF YOU FILE QUARTERLY RETURN THEN YOU MAY ADJUST VAT INPUT FOR THIS QUARTER ONLY. IF YOU HAVE ALREADY PAID THE TAX THEN YOU MAY CLAIM REFUND FOR THIS QUARTER ONLY.
FOR PREVIOUS TAX PERIODS YOU CANT REVISE THE RETURN. BUT YOU MAY CLAIM REFUND IN DVAT 21 FORM AND ON REJECTION FROM DEPARTMENT YOU MAY FILE OBJECTION IN DVAT-38 FORM AND GET REFUND
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Pass word to open justification report for Q1 for FY 2026-27
- Section 194JA & JB Income which ITR Form to use
- PPF interest-As Exempt Income disclosure
- Scrutiny and reopening of past returns
- F & O PROFIT REPORTING FOR AY 2026-27
- Booth for sales promotion
- Type of Capital Gain
- VALUATION OF PRIVATE LIMITED COMPANY SHARES
- Average Cost Of High Quality Diamonds
- TDS on Rent received on redevelopment of building
- Tax on Deemed Capital Gain
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
