Vat refund form 501

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Querist : Anonymous

Querist : Anonymous (Querist)

09 January 2012 What is the recourse available for Form 501 (Vat Refund)if not filed on due date???

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)

09 January 2012 If you fail to file a VAT / TOT return and receive a unilateral assessment made by the Commercial Taxes Department, you cannot appeal against that assessment. The only way to challenge this assessment is to file the VAT / TOT return as required by the AP VAT Act 2005.

The situations in which a refund can be claimed are:
a VAT dealers making international exports in any tax period.

b VAT dealers who have carried forward a credit for 24 months from the date of commencement of the Act.

c VAT dealers who carry forward credit upto March every year provided they are in business for 12 months.

d VAT dealers cancelling their registration who have a credit balance at the time of Cancellation.

e Where refund arises as a result of decision of Appellate Authority or Court.

FOR ANY QUERY:
https://rkconsultants.net/salestax.php#0107

Querist : Anonymous

Querist : Anonymous (Querist)

09 January 2012 do the vat refund form 501 can be filed after the due date of 07/01/2012???

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)

09 January 2012 yes,

Read the link:

https://www.caclubindia.com/forum/dvat-efilling-2a-and-2b-and-form-16-due-date-extended-170608.asp

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