Vat Refund
This query is : Resolved
25 July 2011
Hello Sir/Madam,
I need a clarification regarding the refund of Vat (MAHARASHTRA) by a company.
The company is setting up a manufacturing plant. During the period 06-07 to 10-11, it has purchased necessary capital goods for installing the plant. The Vat input on these purchases has been seperately accounted for.
The commercial production has started in the month Dec 2010.
My doubt is, can the VAT Input on the purchases made from the year 06-07 be claimed as a refund ?
And if the goods are raw materials (not being capital goods), and if the production has not started, can the Vat input or refund be asked for ?
Thank you.
I need a clarification regarding the refund of Vat (MAHARASHTRA) by a company.
The company is setting up a manufacturing plant. During the period 06-07 to 10-11, it has purchased necessary capital goods for installing the plant. The Vat input on these purchases has been seperately accounted for.
The commercial production has started in the month Dec 2010.
My doubt is, can the VAT Input on the purchases made from the year 06-07 be claimed as a refund ?
And if the goods are raw materials (not being capital goods), and if the production has not started, can the Vat input or refund be asked for ?
Thank you.
Sunil Mate
(Expert)
26 July 2011
Dear Sir,
As per Rule 53(6)(b), The Manufacture not being principaly Jobworker eligible for set-off against Capital Items, Packing & Consumable upto three year from the date of Registration.
As per Rule 53(6)(b), The Manufacture not being principaly Jobworker eligible for set-off against Capital Items, Packing & Consumable upto three year from the date of Registration.
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