Input credit

Different states have different mechanism for the Refund Procedure. Normally you can carry forward the VAT Input Credit to the next financial year and if still there is an excess amount (Refund) in the end, then you have to claim Refund.

Dear Shilani,

you have cannot c/f you excess ITC for FY 2013-14 but you can file for the refund of excess credit in 2014-15.

Read it for clearification: 

(1) Refund can be claimed at the end of the tax period only. (2) Excess tax credit should not be carried forward to the next year (3) Refund of excess tax credit carried forward from previous year should be claimed in any of the remaining tax period of 2013-14 but not later than the last tax period ending on 31-03-2014. (4) Excess tax credit remaining at the end of a tax period can either be claimed as a refund or carried forward to next tax period of the same year.

Hope it will help you.

Dear Shilani,

Dept will scrutinize all the documents on which you have claiming Input Tax credit. for further go with the link for documents required and Input tax credit can be claimed only on purchases from dealers registered under GVAT. The original 'tax invoice' is the proof required to claim input tax credit. The tax invoice must be preserved carefully to be produced in audit proceedings, if any tax invoice is not held by the dealer then a claim cannot be made for the input tax. credit.

/notice_circulars/processing-of-refund-applications-3515.asp#.U0y1tbxDt0w

For claiming ITC fill form DVAT21 - https://delhi.gov.in/DoIT/TradeAndTaxes/Forms/DVAT_Forms/Form_21.pdf

hpoe it will help you

further contact on jaishree.koashal @ gmail.com
 

Hello Jaishree,

Please provide the circular/notification no from wher you have taken the following extracts.

(1) Refund can be claimed at the end of the tax period only. (2) Excess tax credit should not be carried forward to the next year (3) Refund of excess tax credit carried forward from previous year should be claimed in any of the remaining tax period of 2013-14 but not later than the last tax period ending on 31-03-2014. (4) Excess tax credit remaining at the end of a tax period can either be claimed as a refund or carried forward to next tax period of the same year.
 

Dear Shilani,

Go with this link for your query read it carefully and if you not find go with the attachment:-

https://dvat.gov.in/website/home.html#