VAT
This query is : Resolved
13 June 2010
Dear Expert,
1. If there is sales returns can we claim refund or just VAT adjustment alone is allowed. Upto what period the sales returns can he considered for refund or VAT adjustment?
2. Suppose if input is charged at 12.5% and the output is charged at 4% and the input tax paid is more than output tax say 10000 is input tax and 9000 is the output tax can we claim refund in this case? Pls. quote the sections also.
Thank you,
With regards,
Rajesh.
With Regards,
Rajesh
1. If there is sales returns can we claim refund or just VAT adjustment alone is allowed. Upto what period the sales returns can he considered for refund or VAT adjustment?
2. Suppose if input is charged at 12.5% and the output is charged at 4% and the input tax paid is more than output tax say 10000 is input tax and 9000 is the output tax can we claim refund in this case? Pls. quote the sections also.
Thank you,
With regards,
Rajesh.
With Regards,
Rajesh
CMA Ramesh Krishnan
(Expert)
15 June 2010
Input can be adjusted in the subsequent month refund after year end and finalistion of VAT audit possible
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