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)
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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.

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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)
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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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