VAT input tax credit
This query is : Resolved
Murtaza I Bhagat
(Querist)
20 December 2009
One of my friend in gujarat is under monthly VAT Return submission system.On last month he has filed Oct'09 VAT return but after some days he has found 3 purchase bill from registered party by them VAT has been deducted...now its time to file Nov'09 VAT return.
my simple que. is that any way that he can add this bill this month return on which he has paid VAT or it not time to take credit of past month
if yes what would be the effect of last month ?
thanks in advance
my simple que. is that any way that he can add this bill this month return on which he has paid VAT or it not time to take credit of past month
if yes what would be the effect of last month ?
thanks in advance
manish soni
(Expert)
21 December 2009
As per my knowledge You can take the input credit in Nov.09.
as per GVAT "delears can claim input with the one year from the date of VAT invoices.
as per GVAT "delears can claim input with the one year from the date of VAT invoices.
Murtaza I Bhagat
(Querist)
21 December 2009
What about Oct'09 Entry.Can he take in November'09 or in October'09
CA Sanjeev Kr Jain
(Expert)
21 December 2009
file revised return for oct 09
Murtaza I Bhagat
(Querist)
22 December 2009
if he dont filed revised return so what will be the effect of that purchase amount of oct'2009. Do he add that purchase amount in Nov'09 VAT return with Input VAT or without VAT. or anyother option.
Thanks in advance
Thanks in advance
manish soni
(Expert)
26 December 2009
if the sales made in Oct.09 and Purchases also declared in Oct.09 but not taken the input in Oct.09 then can take the input in Nov.09, didn't required to file the the revise return.
if the sales made in Oct.09 and purchases not declared in Oct.09 then you have to file the revise return.
Input should be allow on the basis of original VAT inovoices only. In oct.09 you have not get the original invoices so not taken the input in oct.09 but the same get in Nov.09 so can take the input on the ground of that purchases already declared in Oct.09.
for further detail please follow the GVAT rules.
if the sales made in Oct.09 and purchases not declared in Oct.09 then you have to file the revise return.
Input should be allow on the basis of original VAT inovoices only. In oct.09 you have not get the original invoices so not taken the input in oct.09 but the same get in Nov.09 so can take the input on the ground of that purchases already declared in Oct.09.
for further detail please follow the GVAT rules.
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