Voluntary deposit of rs. 25000/- u

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Jatin Koradia (Querist)
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21 January 2013 Dear Sir

New dealer has voluntarily deposited Rs. 25000 under MVAT registration.

Now, can dealer set off this against the MVAT tax liability due in the first year or not ?

Please quote relevant circular reference for above.

Regards
Jatin Koradia

Aditya Maheshwari

Aditya Maheshwari (Expert)
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21 January 2013 No w. e. f. 01/05/2011 you cannot claim credit of Rs. 25,000/- deposit in the first year itself. See section 16 of MVAT and this link
http://mahavat.gov.in/Mahavat/MyFold/DOWNLOADS/NOTIFICATIONS/KNOW_NOTIFI_MVAT/KNOW_NOTIFI_MVAT_04_13_11_1_24_13PM.pdf

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