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refund claim on excess input vat credit

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(Querist)
18 April 2009 A dealer is regularly(trading unit) purchasing from the local registered dealers @ 12.5% which in turn sales @ 2% against Form-C. Here, in every month, 10.5% of tax is found excess. What is the maximum time to claim such excess by the dealer? Please reply under TNVAT Act.
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CA. B.SRINIVASULU

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CA. B.SRINIVASULU (Expert)
18 April 2009 Immediate month of filing. Ie April month return you will file in May 20 at that time itself you can insist for refund and they will process in june and you will get refund in july.

The same prcedure to be adopted for each month.
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CA Nitin Wadhwani

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CA Nitin Wadhwani (Expert)
19 April 2009 Since all the sales are interstate sales, no or proportinate set-off will be allowed.
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