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EXCESS INPUT CREDIT BROUGHT FORWARD
WHAT IS EXCESS INPUT CREDIT BROUGHT FORWARD IN VAT RETURN FILE
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Quick Summary
The High Court of Madras held that excess Input Tax Credit (ITC) has to be refunded back to the dealer. There was no provision for carrying forward such Input Tax Credit for adjustment of tax liability for the subsequent period.
The single-judge bench of Justice C. Sarvanan held that excess Input Tax Credit (ITC) has to be refunded back to the dealer. There was no provision for carrying forward such Input Tax Credit for adjustment of tax liability for the subsequent period.
The single-judge bench of Justice C. Sarvanan held that excess Input Tax Credit (ITC) has to be refunded back to the dealer. There was no provision for carrying forward such Input Tax Credit for adjustment of tax liability for the subsequent period.
can be refund of excess Input Tax Credit (ITC) before registration ?
No it's impossible
some purchases before registration date and other one after registration date and our vat registration date is 26 April ,vat effective date is 1 July 2021. which bills are vat reclaimable?
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