06 July 2011
Co. X has got excess input credit for the FY 10-11 amounting Rs.317425/-. Can Co.X carry forward excess credit to FY 11-12 for claiming setoff in VAT payable? Pls Advise
17 July 2011
VAT carry forward based on the state VAT act. Generally all state VAT allows to carry for the vat input to next financial year up to some limit