We have paid VAT in 2010-2011 Rs.864042 instead of Rs.355986, should we get carry forward of excess VAT from VAT payble in 2011-2012
1 Replies
Harshal Fifadra
(Chartered Accountant)
(1489 Points)
Replied 26 October 2012
The payment is made extra by an amount of Rs.5,08,056.
As per MVAT notifications issued by the department, in case of amount of refund exceeding Rs.1,00,000 the same needs to be said as claimedd in the last return of the year in which there is a refund.
Had the amount been less than Rs.1,00,000 the same could have been carried forward to the subsequent period of the next year ........
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