VAT
This query is : Resolved
21 August 2009
Hi
I want to know can i (from Mumbai branch)transfer my VAT input or output credit to my delhi branch or vice versa ,what is the requirement for this transfr(including sales tax office).& tell me entry for that
waiting for reply
thanks & regards
Nilesh
I want to know can i (from Mumbai branch)transfer my VAT input or output credit to my delhi branch or vice versa ,what is the requirement for this transfr(including sales tax office).& tell me entry for that
waiting for reply
thanks & regards
Nilesh
Guest
Guest
(Expert)
21 August 2009
Dear Nilesh
I'm not completely sure on this but still believe that such inter state branch knocking of VAT is not possible as they are governed by respective state acts.
Thanks & Best Regards
Himanshu
ca.hims@gmail.com
I'm not completely sure on this but still believe that such inter state branch knocking of VAT is not possible as they are governed by respective state acts.
Thanks & Best Regards
Himanshu
ca.hims@gmail.com
SARATHY RP
(Expert)
22 August 2009
Dear Nilesh,
VAT is a State subject. You have to avail input credit in the same State. If you have excess of input credit over your output VAT liability, it can be carried forward (subject to incorporation of same in your monthly returns) or claim refund by application in proper Form designed for this purpose. IT CANNOT BE TRANSFERRED TO ANOTHER STATE, UNLIKE SERVICE TAX CREDIT.
Thanks.
Sarathy
VAT is a State subject. You have to avail input credit in the same State. If you have excess of input credit over your output VAT liability, it can be carried forward (subject to incorporation of same in your monthly returns) or claim refund by application in proper Form designed for this purpose. IT CANNOT BE TRANSFERRED TO ANOTHER STATE, UNLIKE SERVICE TAX CREDIT.
Thanks.
Sarathy
22 August 2009
U can claim refund where u have available VAT credit and Pay VAT where it is payble but cant adjust it as u think.
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