What is the actual amount that i have to be claimed
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 October 2014
Dear all,
I’m very confused and please suggest me how to solve the following issues:
I’m buying taxable goods 5% within the state for Rs- 1,00,000/- (i-e invoice amount Rs.1,05,000/-)
While filing monthly return I’m claiming input tax amount of Rs-5,000/-
While I’m repaying the amount getting 10% rebate for the early payment ( i-e 1,05,000 – 10,500 = 94,500)
My query, the actual amount to be claim Rs- 4,500/- but I claimed Rs-5,000/- how can I solve this problem.
I’m very confused and please suggest me how to solve the following issues:
I’m buying taxable goods 5% within the state for Rs- 1,00,000/- (i-e invoice amount Rs.1,05,000/-)
While filing monthly return I’m claiming input tax amount of Rs-5,000/-
While I’m repaying the amount getting 10% rebate for the early payment ( i-e 1,05,000 – 10,500 = 94,500)
My query, the actual amount to be claim Rs- 4,500/- but I claimed Rs-5,000/- how can I solve this problem.
23 October 2014
As per VAT act input can be claimed based on invoice, Since payment is irrelevant in vat act, you can claim 5000/-
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