one of my client, who engaged in manufacturing of Oilfield equipment and heavy machine in Uttarakhand. during the A.Y.09-10 A.Y.10-11 and A.Y.13-14 sales tax demand was imposed by sales tax department. and now it come decision of the department in current year.15-16. company is set off this demand from VAT receivable a/c in current year 15-16. whether company do the same??? if no then please suggest me what have i do??
11 January 2016
If the demand related to 2009-10 , 10-11 and 13-14 and the decision has come to pay , then the demand money can be setoff from the vat credit available during that year not form current year. If the VAT credit not available then the demand amount should pay through challan. Regards Kanak
CAclubindia
