Refund of VAT
This query is : Resolved
06 July 2010
plz clarify the procedure to claim the refund of VAT. To the extent i know if we don't pass the VAT further, then we can claim the refund.
But is there any provision in the VAT act that when we sell product which is not VATable ,then to the extent of the profit margin refund shall not be allowed.
PLZ reply asap.
But is there any provision in the VAT act that when we sell product which is not VATable ,then to the extent of the profit margin refund shall not be allowed.
PLZ reply asap.
06 July 2010
VAT refund can be claimed only after the VAT audit as per state vat act. if your goods is not vatable you may not claim the input and if any payment due to error you need to approch the LVO with offical application for refund
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