I pay the vat of april, but now i come to know that a Rs.50000 discount on sales entry is pending so vat credit not taken of it. Is there possible to take this credit now? If yes, please know how to mention or how to take.
Ashish Bhalara (Sr. Account Officer) (345 Points)
07 June 2012I pay the vat of april, but now i come to know that a Rs.50000 discount on sales entry is pending so vat credit not taken of it. Is there possible to take this credit now? If yes, please know how to mention or how to take.
CA SANTOSH SAH
(CHARTERED ACCOUNTANT)
(183 Points)
Replied 07 June 2012
Re your vat retuevisrn of April then you will get Extra vat amount credit i. e. 50000*5%=2500 in next return.
Ashish Bhalara
(Sr. Account Officer)
(345 Points)
Replied 07 June 2012
My base question is that if the vat credit note month of april is taken in jun, it is valid or not.
Chetan
(Officer)
(112 Points)
Replied 09 June 2012
Credit of VAT can be availed at anytime during the whole financial year. In sertain cases, even after that. We just have to revise our return. You can vail the VAT credit of April in June.
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