Vat refund for march 08
This query is : Resolved
Kaushik Gandhi
(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?.
CA. O.P. Agarwalla
(Expert)
18 September 2008
I think, you should carry forward the ITC to the FY 2008-09
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.
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.
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?
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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