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Vat refund for march 08

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(Querist)
18 September 2008 on 31st march 08, my VAT a/c shows a credit(refund due)of around Rs. 4 lakhs. Should i claim for refund or should i carry it forward in the next year to set it off against next years liability?.
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CA. O.P. Agarwalla

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CA. O.P. Agarwalla (Expert)
18 September 2008 I think, you should carry forward the ITC to the FY 2008-09
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
18 September 2008 Sir
I think each state has theron procedures.So we can't generally say that it can be carry forward.Mr.Gandhi has not given in the question for which state he seeks the answer.
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Kaushik Gandhi

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Kaushik Gandhi (Querist)
22 September 2008 dear mr chakrapani,
v r in mumbai. MAH VAT applicable. even i think we should carry forward unutilised credit, but i ve heard that for Mar 08 in particular, r refund has to be claimed. is there any such notification?
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