Refund of VAT
This query is : Resolved
ATIT D SHAH
(Querist)
09 April 2009
An assessee purchases raw material on which he has to pay vat of 15%, however the finished product is exempt from vat, is assessee liable to take TIN number ? and if he takes tin number than can he claim refund of vat paid by him on raw materials ?
Nilesh Damji Chheda
(Expert)
09 April 2009
Dear Atit
u can apply for vat no and claim the refund of vat paid on raw material
u can apply for vat no and claim the refund of vat paid on raw material
ATIT D SHAH
(Querist)
13 April 2009
Means k after applying for vat no, n filing return i can claim refund .. ! Actually i have just no idea of vat..
Vishnu Saboo
(Expert)
01 June 2009
Unless u have TIN No u cann't file return for refund.
but if your finish good is exempt from tax under sec 5 (2), u r not eligible for Tax credit.
but if your finish good is exempt from tax under sec 5 (2), u r not eligible for Tax credit.
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