Vat refund
This query is : Resolved
14 October 2011
I do have a VAT (unclaimed) refund of Rs. 28,000/- for the year 2010-11 which has been shown in the return also.
I would like to ask,
a. whether this refund can be adjusted against my dues for Apr-11-to-Sep-11 ?
b. Secondly, if there is again excess credit for the said period i.e. Apr-Sep-11, can the last year's refund be carried forward to next year ?
I would like to ask,
a. whether this refund can be adjusted against my dues for Apr-11-to-Sep-11 ?
b. Secondly, if there is again excess credit for the said period i.e. Apr-Sep-11, can the last year's refund be carried forward to next year ?
15 October 2011
You can carry forward credit for a month to next month. At the year end you should claim for the excess tax paid.
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