VAT credit
This query is : Resolved
P.Gopinath
(Querist)
31 August 2008
For all interstate purchases we are taking VAT credit.After couple of months we reject these materials.shall we have to reverse VAT Input credit in TN VAT Act?.Can anyone throw light by quoting relevent provision or case laws in VAT act?
02 September 2008
Sorry, VAT credit is not available for interstate purchases and only available for intra state purchases.
P.Gopinath
(Querist)
09 September 2008
i would like to tell for all intrastate purchaes.
CA. O.P. Agarwalla
(Expert)
14 October 2008
Mr. P. Gopinath
Please go through the section relating to Input Credit/ Input Credit reversal of your state Act. It is a settled preposition that one can get the benefit of ITC, if only he has acruallt paid the same.
Recersal is must.
Please go through the section relating to Input Credit/ Input Credit reversal of your state Act. It is a settled preposition that one can get the benefit of ITC, if only he has acruallt paid the same.
Recersal is must.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
