Excess input vat

1) You are purchasing the goods within westbengal, you can claim the input credit in your returns filed by the manufacturing unit provided it is registered unit under WB vat.

At WB output tax is 2 lacs, it can be adjusted against input tax credit of 10,00,000. and remaining 8 lacs carry forward to following periods.

2) As you are transfering stock against F form, so it comes under exempted purchase to the unit which is such stock. So those depots needs to pay all output vat for rs 1400,000.and they can claim input tax credit if they r ddoing local purchases and selling it.

but those depots are not eligible to take input tax credit available with WB manufacturing unit.

Originally posted by : ashok
	1) You are purchasing the goods within westbengal, you can claim the input credit in your returns filed by the manufacturing unit provided it is registered unit under WB vat. At WB output tax is 2 lacs, it can be adjusted against input tax credit of 10,00,000. and remaining 8 lacs carry forward to following periods. 2) As you are transfering stock against F form, so it comes under exempted purchase to the unit which is such stock. So those depots needs to pay all output vat for rs 1400,000.and they can claim input tax credit if they r ddoing local purchases and selling it. but those depots are not eligible to take input tax credit available with WB manufacturing unit.

1. Is there any way to get refund of that 8,00,000 ?
2. Can that carried forward 8,00,000 be adjusted against any of the next period's WBVAT if in that period input is less than the output for that period?
3. How long it can be carried forwarded?

No You can not get refund of input tax credit.

Ofcourse you can carry forward your input tax credit till the time you get it fully adjusted against output vat. And if in any period say February, if input tax credit is less than output vat at WB unit, then you must take input tax credit against output vat and difference figure should be paid to the state govt.

There is no time limit to carry forward input tax credit till the time you claim it against output vat.