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Refund of vat registration deposit.

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Querist : Anonymous

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Querist : Anonymous (Querist)
01 March 2012 Dear expetrs,

how can get refund of deposit which have been paid at the time of voluntary registration for vat, if there is no tax liability.should it carry forward for how many year.
Is there any time limit to carry forward the deposit.

waiting for ur kind reply.

Thanking you
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CA. Hari Kishan

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CA. Hari Kishan (Expert)
01 March 2012 Deposit for VAT paid at the time of registration shall be refunded / adjusted only at the time of closure of the business and not other wise..
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Querist : Anonymous

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Querist : Anonymous (Querist)
01 March 2012 sir,
It means it is not adjusted against tax liability while running bussiness.
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CA. Hari Kishan

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CA. Hari Kishan (Expert)
01 March 2012 No.. it can be adjusted or refunded only upon closure of the business..
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Querist : Anonymous

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Querist : Anonymous (Querist)
01 March 2012 Sir,
will we get this refund alongwith interest or only deposit amount after adjustment?
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CA. Hari Kishan

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CA. Hari Kishan (Expert)
01 March 2012 You shall be refunded only the actual amount deposited. No interest is paid on the same.
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anurag

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anurag (Expert)
01 March 2012 Agree with the expert.
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Querist : Anonymous

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Querist : Anonymous (Querist)
02 March 2012 Sir,
Thank you very much for your kind reply.
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