I am in the boat building industry and during the FY 2008-09 (from April 2008 onwards) we have charged and remitted CST @ 10% (without 'C' form) for interstate sales (Kerala VAT rates are 4% and 12.5%). Can we file revised returns now and claim a refund of the excess tax remitted?
Menu
CST return
Replies (1)
In Karnataka statutory time limit for revising the returns is 6 months. However, in practice, the dept. has been accepting the revised returns even if they are filed the time limit.
In the present case, since tax paid is more by 6% in case of goods liable for tax at 4% and as the excess paid would have been collected from the buyers, the department may forfeit the excess payment since the same is collected from the buyers.
Recent Threads
- GST TDS u/s 51 Applicability on RBI and it's subs
- Time allowed to buy another asset
- ITR not processed for the FY 2024-25
- Gift of money to my wife.
- Tax Audit If you show Loss
- GST Tax invoice Value Rs..234000
- Can I claim benefit under 54F if I sell my equity
- Income tax refund 25/26
- Who is responsible for paying GST Liability (If th
- Excess Payment on RCM
Related Threads
CAclubindia
