is input credit allowed of previous fy 09-10
This query is : Resolved
22 July 2010
i have field last quarter vat return previous fy 09-10 that time i have carry forward input credit tax then can i take this input credit b/f in the 1st qtr of fy 10-11 ? plz tell me as soon as possible .
i have field last quarter vat return previous fy 09-10 that time i have carry forward input credit tax then can i take this input credit b/f in the 1st qtr of fy 10-11 ? plz tell me as soon as possible .
K Bala Kishan
(Expert)
23 July 2010
Carry forward of VAT Refunds in on annual basis and you cannot carry forward the previoius years refund amount to the current year. you have to start a fresh carry forward for new financial year.
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