Vat
This query is : Resolved
28 July 2011
as on 1/4/2011 Vat receivable-15235
Vat Tax for q1- 14753
Sir tell me that can we utilised vat receivable against q1 Tax or not
Vat Tax for q1- 14753
Sir tell me that can we utilised vat receivable against q1 Tax or not
Hitender Gaur
(Expert)
28 July 2011
What was position of VAT receivable in your VAT Return? Check it if you were claimed refund then you cant utilize you have to obtain Tax credit Certificate from Assessing authority first, but if you carry forwarded to next tax period than you can utilize it against the liability of Q1. So Check your concern return (in which Input VAT is excess than Out put VAT) first.
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